Finance Minister Michael Noonan has said the national debt would peak at 124% at the end of this year.
The ratio would then move onto a downward path from next year onwards, he said, to 120% at the end of 2014, 118.4% at end-2015 and 114.6% at the end of 2016.
The downward momentum would further enhance market confidence in Ireland, he said.
The forecast deficit for 2013 is 7.3%, 4.8% for next year and 2.9% in 2015.
"We have beaten our deficit target during each year of our programme, and a deficit at 4.8% will beat the target again next year," he said.
Total expenditure would come to €64.9 billion in 2014.
The Minister said the Government Expenditure Ceilings for 2015 and 2016 will be €51.5 billion and €51.9 billion respectively.
GDP growth was forecast to come in at 0.2% this year, strengthening to 2% next year.
Michael Noonan has said that the Budget will bring a deficit of 4.8% in 2014 - ahead of Troika targets.
The Finance Minister said that Ireland will be the first euro zone country to exit an EU-IMF programme. He said that the country is "fortunate" that the NTMA has almost €25 billion in cash balances - in effect the country has a credible backstop already in place.
He said that when the Budget is concluded, he plans to have consultations on the country's exit strategy with the IMF, the European Commission and the European Central Bank.
Mr Noonan told the Dail that by the time the majority of the Budget measures become law in January, he is confident that Ireland will have left the bailout programme.
"We will have closed this chapter of Ireland's history that began for most us with the Governor of the Central Bank announcing to the Irish public that the country would be forced to turn to the lenders of last resort," the Minister stated.
"There will be no promissory notes, there will be no Anglo Irish Bank and there will be no bank guarantee. We will have exited the programme and Ireland will have been handed back her purse," the Minister added.
While he said that the recovery is well underway, there are still risks.
"This Budget has been carefully calibrated to support the growth in jobs that we have seen in the past 18 months, and to keep Ireland on the path to sustainable public finances and economic growth,'' Mr Noonan said.