Ireland had highest EU budget surplus in third quarter 2022

Sat, 28 Jan 2023

Ireland had highest EU budget surplus in third quarter 2022

Robert Besser
26 Jan 2023, 01:48 GMT+10

Ireland reported a higher budget surplus than any other country among the 27-member European Union for the third quarter of 2022, according to Eurostat
Budget surplus is defined as more money being received in taxes and other revenue than was spent on capital investment, public services and debt repayments
Ireland's budget surplus was reported at 3.1 percent of gross domestic product

DUBLIN, Ireland: Ireland reported a higher budget surplus than any other country among the 27-member European Union for the third quarter of 2022, according to Eurostat.

Budget surplus is defined as more money being received in taxes and other revenue than was spent on capital investment, public services and debt repayments.

Ireland's budget surplus was reported at 3.1 percent of gross domestic product.

Only six other nations had surpluses, said Eurostat, including Portugal (1.3 percent), Lithuania (1 percent), Denmark (0.9 percent), the Netherlands (0.4 percent) and Sweden (0.3 percent) during the three months to September 2022.

Further, the average among EU countries was a budget deficit of 3.2 percent.

Ireland's Department of Finance estimates the country's surplus reached 5.2bn euros, surprising officials who expected the surplus to reach 4bn euros.

In a statement, Stockbrokers Goodbody expects Ireland to avoid a recession in 2023 due to "a record household savings haul and the ability for government supports due to the best budget position in the euro area Ireland's 'war chest."

At the same time, the Goodbody report expressed "concerns" about diminishing foreign direct investment into Ireland from the UK and US, because of their "high risk of recession" this year.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Taiwan Sun.

More Information

10 ℃

Fair in Taipei/Songshan

Business

Section

As travel opens up, Thailand prepares for 5 million Chinese tourists

BANGKOK, Thailand: Following China's reopening and the end of its strict COVID-19 restrictions, businesses on Thailand's holiday island of Phuket ...

Recession fears fade as investors weigh into U.S. stocks

NEW YORK, New York - Recession fears faded on Wall Street Thursday as annualized 4th quarter GDP (gross domestic product) ...

Officials cautious as lower mortgage rates increases home buying

WASHINGTON D.C.: In December 2022, US existing home sales declined to a 12-year low, but lower mortgage rates raised cautious ...

South Korean exports fall 2.7% in first 20 days in January

SEOUL, South Korea: Korea Customs Service data released this week showed that South Korean exports for the first 20 days ...

Virginia expects 1,000 jobs as Amazon builds cloud computing center

SEATTLE, Washington: Amazon.com's cloud services division, Amazon Web Services (AWS), has announced that it will expand its data centers in ...

U.S. stocks faint after bull goes into hiding

NEW YORK, New York - U.S. stocks crumbled on Wednesday as the extended rally on Wall Street came to an ...

International

Section

France military ordered out of Burkina Faso in west Africa

OUAGADOUGOU, Burkina Faso: As Burkina Faso, in western Africa, faces an Islamist insurgency, it is set to end a military ...

As births continue to fall, Japan seeks incentives for parents

TOKYO, Japan: Japanese Prime minister Fumio Kishida said this week that it was "now or never" for Japan, one of ...

US moving towards offering annual Covid vaccines to most Americans

WASHINGTON D.C.: As part of its efforts to simplify the national COVID-19 vaccine strategy, the US Food and Drug Administration ...

December crossings of US border set record

WASHINGTON D.C.: US authorities said this week that a surge in Cubans and Nicaraguans arriving at the US border with ...

Canada faces resistance to cutbacks from oil-producing Alberta

OTTAWA, Canada: Canadian Prime Minister Justin Trudeau's Liberal government plans to implement its long-awaited workforce transition bill, the "Just Transition," ...

Japan's Kishida expected to visit Ukraine for talks with Zelenskiy

TOKYO, Japan: The Yomiuri newspaper has reported that Japanese Prime Minister Fumio Kishida is planning to visit Kyiv in February ...

Movie Review

Hostiles