Revised national income and expenditure figures from the Central Statistics Office show that the budget deficit last year was slightly lower than expected.
The new figures indicate the underlying budget deficit last year was 9%, compared with a budget target of 9.4%.
Adding in the cost of bank recapitalisation pushed the deficit to 12.7%, compared to an earlier figure of 13.1%.
Stronger than expected GDP growth last year was the main reason behind the revision, which improves the governments debt to GDP ratio.
The revised figure moves the Government slightly closer to its target of reducing the deficit below 3% of GDP by 2015, though at 9% the underlying deficit is still the highest in the EU, and is three times the deficit limit set by the Maastrict treaty.
The Department of Finance said the revised figures, while welcome, will not impact on plans to make a €3.5 billion adjustment in the next budget, as part of the process of reducing the deficit.
