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Wed 01 Jan 2010Exchequer deficit deepens by €11.9bn
THE EXCHEQUER deficit deteriorated by €11.9 billion in 2009, new figures from the Department of Finance show. An unprecedented €7.7 billion decline – or 19 per cent drop – in tax revenue and a €4 billion payment to Anglo Irish Bank were the main reasons for Ireland’s deepening deficit.
The exchequer deficit stood at €24.6 billion at the end of 2009, compared to a deficit of €12.7 billion at the end of 2008.
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