TOTAL GOVERNMENT REVENUE stood at €33.1 billion in the first quarter of the year, up €1.8 billion on the same period in 2025.

According to the Central Statistics Office, this was largely down to higher taxes. 

Income tax receipts were up €700 million while VAT receipts rose €600 million. Social contributions, which are mostly made up of PRSI receipts, were €500 million up on the previous year. 

Total government expenditure increased by €1.5 billion to €32.4 billion, leading to a government surplus of €800 million for the first three months of the year.

The rise in expenditure was driven by a rise of 8.2% in social benefits and 6.8% in wages and salaries, while capital expenditure also increased by 6.2%.

In the same period, general government debt increased by €5.5 billion to €215.4 billion.

A €6.2 billion increase in debt securities was cited for this jump, which was partially offset by a decrease of €700 million in loans liabilities. This left the state with a debt to gross domestic product (GDP) ratio of 37% at the end of the quarter.

The CSO said the data showed “the composition of general government debt continues to remain relatively stable over time” and showed that long-term securities accounted for €147.6 billion of the total debt.

Long term loans accounted for €41.9 billion, while currency and deposits accounted for €25.2 billion.

In May, the National Treasury Management Agency (NTMA) said Ireland’s national debt could reach €250 billion by the 2030s.

The body responsible for managing the national debt and borrowing on behalf of the government told the Public Accounts Committee that such a level of debt “carries risk” and is not something that the agency can be complacent about.