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General Government surplus hits over €6 billion - CSO

The general government surplus figure will be finalised when Government accounts are published on April 17
The general government surplus figure will be finalised when Government accounts are published on April 17

New figures from the Central Statistics Office suggest the general government surplus last year was just over €6 billion.

The figure will be finalised when Government accounts are published on April 17.

When last year's Exchequer figures were published in January, the Department of Finance indicated that the Government's surplus in 2022 was expected to have been "over" €5 billion.

Timing issues between the receipt of taxes and how expenditure across the broader government sector is recorded can affect the final figures.

The CSO's Institutional Sector Accounts published today also shows that households continued to save a big percentage of their incomes, despite inflation and despite an increase in consumption.

The Household Savings rate was 22% in the final three months of last year. This was slightly higher than in the third quarter.



Incomes grew in the fourth quarter in all categories of employment except hotels, restaurants and transport.

Peter Culhane, statistician with the CSO said: "The household saving rate was high throughout 2022 and remained elevated at 22% in the last quarter of the year".

"While consumer spending increased, it did not reach its pre-pandemic level, relative to income," he added.