Bloomberg News

Irish Deficit Widens on Bank Payments; Underlying Figure Drops

October 04, 2011

Oct. 4 (Bloomberg) -- Ireland’s budget deficit widened in the nine months through September from a year earlier due to payments to recapitalize banks.

The deficit of 20.7 billion euros compared with a shortfall of 13.4 billion euros, the Finance Ministry in Dublin said in a statement on its website today. Tax revenue was 0.7 percent above the government’s target.

The underlying deficit, excluding bank payments, was over 3 billion euros lower than the year earlier.

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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