General government deficit declines in second quarter

Ireland's general government deficit fell to 6 per cent of gross domestic product in the second quarter of the year, new data from the Central Statistics Office showed.

That compares with 8.3 per cent in the same quarter a year earlier.

Government debt, meanwhile, was higher during the three month period and general Government net worth - which takes into account its non financial assets as well as financial assets less liabilities - also fell, reaching -€84.4 billion from -€81.8 billion in the first quarter.

The general deficit stood at €2.49 billion in June, falling from €3.5 billion in 2012.

Revenue in the three months to June 2013 was €14.52 billion, up from €13.75 billion last year. The rise was fuelled mainly by increased revenue from taxes and social contributions. Spending, meanwhile, fell from €17.2 billion in 2012 to €16.93 billion in the quarter.