Ireland Hits Record Surplus of €8.5 Billion on Tax Revenues

Ireland’s fiscal balance hit its largest ever surplus in 2022 thanks to an increase in tax revenues.

The overall government balance reached €8.5 billion ($9 billion) last year. That was up €15.1 billion on 2021’s deficit of €6.6 billion caused by the Covid-19 pandemic, according to the nation’s statistics office.

Total government revenue increased €16.8 billion to €116.1 billion in 2022, the highest since the series began in 1995.

Ireland’s surplus stands out among its EU peers, as many in the region struggle with deficits. The country’s boon is partly thanks to corporate tax receipts from multinationals based ...