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Press Release

First Quarter of 2019 shows solid revenue growth and expenditure in line with expectations

Published: 2 April 2019
From: Department of Finance

End of Q1 2019 shows strong annual tax performance and spending being managed within expectations.

  • The Exchequer recorded a deficit of €966 million in the first quarter of 2019, an improvement of €149 million in year-on-year terms, some €411 million better than profiled.
  • Today’s Exchequer Returns show that tax receipts in the first quarter of 2019 are up €843 million (7.1 per cent) year-on-year underpinned by a strong economy;
  • Gross voted expenditure is being managed within expectations, and is up 6.6 per cent or €932 million on the same period last year, reflecting the Government’s continued commitment to investing in our public services and infrastructure to meet our people’s needs

Speaking about the Exchequer figures today (Tuesday) Minister for Finance and Public Expenditure & Reform, Paschal Donohoe TD, stated:

“All tax heads are performing well, reflecting the economy which is growing on a broad and sustainable basis. Expenditure is being managed within expectations and is up in year-on-year terms. This provides the resources to fund our public services and the investment to enhance our growth potential and address key infrastructural bottlenecks, with gross expenditure for the quarter up 6.6% year-on-year. These first quarter figures represent a good start to the year and provide a platform to help achieve our annual fiscal targets. However, potential challenges, including Brexit exist, so this Government will continue its careful stewardship of the public finances.”
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Fiscal Monitor End March Slide Presentation

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ENDS

Contact:

Claire Godkin, Press Officer, Department of Public Expenditure and Reform – 085 806 3969

Aidan Murphy, Press Officer, Department of Finance – 085 886 6667