The Minister for Finance has said there is a liability on Ireland to pay an extra €280m to the European budget, as part of the country's national contribution.

However Michael Noonan said there are still some "moving parts" which could see the final bill a few million more or less than it currently stands.

Mr Noonan said that some work is being done at a "technical level" to deal with once-off jumps in the country's Gross Domestic Product. Figures released last week showed that GDP soared by over 26% last year. 

He said that the country can afford to pay the EU bill and there is no change in the budget position. 

Mr Noonan said Ireland will be able to meet the increase in its contribution to the EU Budget because it has collected more money in taxes this year than it had expected.

He said the CSO figures were a surprise to him and he did not have advance notice of the economic data.

He added while the Government can manage the increased contribution to the EU Budget, it would be "unfortunate" if there were any other economic fluctuations in the foreseeable future. 

The Minister told RTÉ's News at One that following the abolition of the 'double Irish' tax, some international corporations brought their intellectual property onshore in Ireland. 

This resulted in greater profits accruing to the balance sheets of companies based in Ireland, which resulted in more corporation tax, he explained.

Mr Noonan said the advice from the CSO is that this is a once-off correction and another "great leap forward" is not expected.

Mr Noonan said that new sums will have to be done when Britain leaves the EU and the EU budget will be smaller.

However, he said negotiations have not taken place yet and Ireland has not been adversely affected - so far - by the Brexit vote.

He said Ireland has a strong vested interest in keeping the UK in the single market.