Robert Besser
26 Jan 2023, 01:48 GMT+10
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.
Get a daily dose of Beijing Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Beijing Bulletin.
More InformationAMSTERDAM, The Netherlands: This week, Dutch competition regulator, the ACM, rejected an appeal by Apple against fines worth €50 million. ...
TOKYO, Japan: Tokyo-based startup Tsubame Industries has developed a four-wheeled robot that resembles the "Mobile Suit Gundam" from the popular ...
DUBLIN, Ireland: Taoiseach Leo Varadkar has said that Intel's new factory in Co Kildare will play a "strategic" role in ...
SEATTLE, Washington: As part of Washington's efforts to stop Big Tech from monopolizing the most lucrative parts of the internet, ...
Starlink will reportedly sell terminals and connectivity kits in several countries on the continentElon Musk's SpaceX will partner with e-commerce ...
Of the many "profound risks to society and humanity" that have tech experts worried about artificial intelligence (AI), the spread ...
AMSTERDAM, The Netherlands: This week, Dutch competition regulator, the ACM, rejected an appeal by Apple against fines worth €50 million. ...
TOKYO, Japan: Tokyo-based startup Tsubame Industries has developed a four-wheeled robot that resembles the "Mobile Suit Gundam" from the popular ...
ISLAMABAD, Pakistan - According to The News, the federal government is considering selling its stake in the Reko Diq project ...
NEW YORK, NEW YORK - U.S. stocks tumbled on Tuesday as interest rates on 10 and 30-year Treasury yields approached ...
DUBLIN, Ireland: The chief medical officer has issued a stark warning regarding the alarming levels of cannabis consumption in Ireland, ...
OAKLAND, California: As their current contract expires and their unions prepare to strike, Kaiser Permanente workers' representatives said, on September ...