The government’s surplus figures were published last week, and it shows that in real terms Ireland is now running on less than half of its fiscal 2013 forecast, the previous figure of 46 per cent.
That means that in terms of the number of people it has on its books, the country is in surplus in the second quarter of this year, according to the Department of Finance.
What does that mean for Ireland’s economy?
This is where the Government is currently trying to sell the Government on its plan to reduce Ireland’s debt to the euro.
The new figures show that the Government has taken an annual loss of €1.2 billion since 2010, a loss that is more than double the €1 billion loss in real value that it had previously claimed.
It is also running a surplus in real (real gross) terms, according the Department, which is in the process of calculating the annual loss.
But the figures do not give the actual size of the deficit, which was estimated at €5.7 billion last year.
The Government has been pushing for this number to be revised down because of the uncertainty around how much of the increase in deficit was due to rising tax revenues and how much was due from other economic changes, such as a reduction in the number who applied for unemployment benefits.
The figures also do not show how much more revenue the Government will get from a new tax credit scheme, which it has promised to introduce next year.
But it does indicate that the tax credit would be worth almost €1bn a year if it were implemented.
The budget deficit is also expected to fall by more than €300m, to just over €3 billion, in real dollars.
But, the Government argues that it will still be able to pay back its debts to the European Union, which will be the main source of funding.
This figure has been disputed by economists and many in the Government.
For a year, the government has been insisting that it was still able to meet its obligations to the EU and the International Monetary Fund, which paid for €2.4 billion in support payments for Ireland in the first quarter of 2018.
This money was used to buy up bonds from a number of banks and businesses, and to help pay down debt.
However, since then, the number that has been lent has fallen by €1 trillion, from €2 trillion to €1,700 billion.
This is a huge amount of money for Ireland to be borrowing from the EU.
Since the first tranche of the bailout package, the ECB has lent the Irish government €2,726 billion, but the government is now in arrears on the amount owed by the ECB.
If Ireland was to default on its debts, it would need to borrow from the European Central Bank to repay the debt, and that would require a massive amount of funding from the rest of the world.
What about the Northern Ireland Budget?
The Irish Government has not yet released a detailed budget for the Northern Irish economy, but it does appear to be in surplus.
In the first three months of the year, GDP grew by just under 4 per cent, and by the third quarter it grew by a modest 0.5 per cent a year.
This growth was largely driven by the economic impact of the Northern Powerhouse, a $10 billion power plant that will generate up to 10,000 jobs.
The Irish economy is also still struggling with the Northern Storm, which has caused a huge number of temporary closures in the Irish capital.
It is estimated that, for the third month in a row, the Irish economy contracted in the third and fourth quarters.
This was partly due to the fact that the Northern Electricity Authority was unable to continue to pay out its power contracts for another five months, and partly because of higher electricity prices.
Northern Ireland is also struggling with a huge backlog of applications for unemployment payments.
It was estimated in the previous Budget that the number was around 2.5 million.
There is also the question of the €2 billion in aid the Government expects the EU to provide.
As part of the EU’s bailout deal, Ireland will receive a €2bn loan from the bloc, and the Irish Government is expecting that it is likely to repay this amount in 2020.
But Ireland is in arresse with the rest, and there is no sign that it has been able to secure a loan from other EU member states either.
And the Northern powerhouse is not a very important part of Ireland’s economic future, because the power stations have not been built yet.
In the end, there is also a question of how Ireland will deal with the rise in inflation and other pressures caused by the eurozone debt crisis.
While it is true that Ireland is not going into surplus in a year’s time, the new figures do show that in fiscal 2013, the budget deficit was around €1-billion,