The Exchequer recorded a surplus of €272 million in the first three months of 2004 compared with a deficit of €205 million in the same quarter last year, according to figures released today by the Department of Finance.
The surplus can be attributed to a higher tax take for the quarter and lower level of spending than had been anticipated.
Tax receipts for the quarter were just over €8 billion, €317 million better than had been predicted. Year-on-year tax receipts are 15 per cent up. Spending was just over €7 billion, €379 million lower than expected
The Minister for Finance, Mr McCreevy, said the results showed the Government was on course to meet its yearly targets.