The Department of Finance is forecasting a massive €9.2 billion Government surplus this year.

That is €4bn more than had been expected for 2026.

Economic growth has been downgraded slightly as a result of the US Iran war, but in its Spring Economic Statement, the department says even in the most severe scenario it expects the economy to grow.

The department is forecasting an Exchequer deficit of €1.2bn for 2026 compared to a surplus of €7.1bn last year.

The deficit figure is linked to commitments of transfers into the Government's Future Ireland Fund and Infrastructure, Climate and Nature Fund.

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