Government spending for the year-to-date is closely in line with the Budget target with a surplus of just €266 million at the end of May.
This surplus is considerably lower than €1.84 billion unspent at this time last year and is a result of higher Government spending.
According to the latest Exchequer returns from the Department of Finance Government spending has increased by 23 per cent while tax receipts grew by less than 10 per cent.
Tax receipts for the first five months of the year were €18.62 billion, just under the Budget target.
There was a strong performance from corporation taxes which were €221 million ahead of projections. However, income tax receipts were €56 million below expectations at €4.99 billion.
Stamp duty revenues were €1.43 billion, slightly below expectations.