The latest Exchequer returns data show a deficit of €152.85 million in the Government's finances.
This compares with a surplus of €254.89 million for the same period in 2004 but is in line with Government targets.
The figures for the first seven months of the year show Government coffers were again bolstered by strong tax receipts.
Tax returns during the period were €20.81 billion compared to €19.5 billion during the same period last year.
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Corporation tax receipts fell to €2 billion from €2.54 billion in 2004.
But VAT was strongly ahead of projections on the back of strong stamp duties from the property market.
Non-tax revenues also declined to €366 million from €552 million from 2004.