Government deficit last year was €18.4bn as pandemic struck

Provisional data for the year shows revenue decreased by €3.5bn, as spending ballooned

Minister for Finance and Public Expenditure Paschal Donohoe at  Government Buildings.

Minister for Finance and Public Expenditure Paschal Donohoe at Government Buildings.

 

There was a general government deficit of €18.4 billion last year as the Government coped with mass unemployment supports due to the Covid-19 pandemic, according to the latest figures from the Central Statistics Office.

Provisional data for the year shows revenue decreased by €3.5 billion, or 3.9 per cent. At the same time, expenditure increased by €16.7 billion, or 19.1 per cent, compared to 2019.

This has resulted in a movement of €20.2 billion relative to the 2019 surplus.

Government debt increases to 59.5 per cent of GDP in 2020

Provisional data indicates that general State gross debt stood at €218.2 billion at the end of 2020 compared with the 2019 figure of €204.2 billion. That figure amounts to 57.4 per cent of gross domestic product.