Thursday 2 July 2009

Irish January-June Budget Deficit EUR14.7B Vs -EUR5.6M

Irish January-June Budget Deficit EUR14.7B Vs -EUR5.6M

DUBLIN (Dow Jones)--The Irish government said Thursday it posted a budget deficit of EUR14.7 billion for the first six months of 2009, compared with a deficit of EUR5.6 million from January to June 2008.

Tax revenue of EUR15.8 billion was EUR188 million, or 1.2%, below expectations for the period and was down 17.3% on the year. Tax revenue was EUR19.1 billion a year earlier.

"Stabilizing the public finances is a critical part of the renewal of our economy. We must pursue this course of action resolutely to allow all in society to benefit from the upturn in the global economy when it occurs," said Finance Minister Brian Lenihan.

-By Quentin Fottrell, Dow Jones Newswires; +353-1-676 2189; quentin.fottrell®

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(END) Dow Jones Newswires

July 02, 2009 11:49 ET (15:49 GMT)

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