McCreevy buoyed by Exchequer surplus
Exchequer funding for the first six months of this year has shown a surplus of €130m it emerged today.
Finance Minister Charlie McCreevy said the increase compared to an exchequer deficit of €344m for the first six months of 2003.
And he added the surplus was against the budgeted deficit of €2.806m for 2004 as a whole.
“The results to the end of the second quarter indicate that the public finances are somewhat ahead of target for the year,” Mr McCreevy said.
“Expenditure is expected to be in line with the revised estimate for the year. The strong revenue performance includes the one source €580m from offshore assets and bogus non resident account investigations.”
The current account balance at the end of June 2004 reveal a surplus of €1.73m compared to a surplus of €1.24m for the same period last year.
