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Government Finance Statistics Quarter 1 2024

Non-Financial Accounts

Online ISSN: 2009-6178

CSO statistical release, 16 July 2024, 11am

Revenue

Total government revenue this quarter was €1.3 billion higher than Q1 2023. The main component of the change was taxes which were up by €0.8 billion. Social contributions and investment income also saw increases of €0.4 billion and €0.1 billion respectively.

	Indirect taxes	Direct taxes	Capital taxes	Social contributions	Investment income	Sales of goods and services	Current transfers	Capital transfers
Q1 2022	8.5	9.6	0.1	4.8	0.0	1.1	0.2	0.1
Q2 2022	6.4	15	0.1	4.9	0.2	1.1	0.3	0.2
Q3 2022	9.4	12.6	0.1	4.9	0.3	1.1	0.3	0.2
Q4 2022	7.4	20	0.4	5.4	0.2	1.2	0.3	0.2
Q1 2023	8.8	11.6	0.1	5.3	0.3	1.1	0.3	0.2
Q2 2023	6.7	15.5	0.1	5.3	0.4	1.1	0.3	0.2
Q3 2023	9.5	11.9	0.1	5.2	0.5	1.1	0.3	0.2
Q4 2023	8	20.9	0.4	5.6	0.7	1.2	0.3	0.2
Q1 2024	9.9	11.4	0.1	5.6	0.4	1.1	0.3	0.2

Table 2.1 General Government; detailed classification of revenue and output

Table 2.1 General Government: detailed classification of revenue and output
														€million
Description					ESA2010 code	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1
Total Revenue					TR	24,338	27,673	28,811	35,057	27,579	29,651	28,805	37,341	28,833
	Taxes and social contributions					22,885	25,892	26,972	33,110	25,726	27,568	26,631	34,903	26,892
		Taxes			D2 + D5 + D91	18,117	20,987	22,032	27,702	20,490	22,326	21,477	29,282	21,300
			Indirect taxes (taxes on production and imports)		D2	8,481	6,421	9,374	7,335	8,801	6,727	9,520	7,992	9,860
				Taxes on products	D21	7,591	5,378	8,490	6,319	7,800	5,602	8,594	7,098	8,648
				of which Value-Added Tax	D211	5,601	3,183	6,381	4,086	5,930	3,446	6,569	4,406	6,564
				Other taxes on production	D29	889	1,043	884	1,016	1,001	1,125	927	894	1,212
			Direct taxes		D5	9,574	14,497	12,568	19,974	11,632	15,539	11,848	20,882	11,375
				Taxes on income, profits and capital gains	D51	9,318	14,264	12,335	19,765	11,365	15,299	11,616	20,673	11,111
				Other current direct taxes	D59	256	233	234	208	267	240	232	209	264
			Capital taxes		D91	63	69	89	393	57	60	109	408	65
		Social contributions			D61	4,767	4,905	4,941	5,408	5,236	5,242	5,155	5,621	5,592
			Actual social contributions		D611 + D613	3,729	3,882	3,916	4,441	4,267	4,289	4,175	4,640	4,614
				PRSI receipts	D611 + D613(pt)	3,316	3,463	3,503	3,951	3,803	3,812	3,706	4,155	4,112
				Government employees' pension contributions	D613(pt)	413	419	413	489	465	477	470	485	502
			Employers' imputed social contributions		D612	1,039	1,023	1,025	967	969	952	979	980	978
	Sales of goods and services				P1O	1,053	1,117	1,105	1,208	1,128	1,144	1,129	1,215	1,091
		Sales of market establishments (= market output)			P11	0	0	0	0	0	0	0	0	0
		Imputed sales related to production of own-use capital assets (= output for own final use)			P12	6	6	6	6	6	6	6	6	6
		Incidental sales and fees of non-market establishments			P131	1,047	1,112	1,100	1,202	1,123	1,138	1,123	1,209	1,085
	Investment income				D4	19	182	259	210	253	397	495	692	388
		Interest (excluding FISIM)			D41	-3	11	53	155	233	254	316	338	353
		Dividends / Other investment income			D42 + D44	5	154	188	38	2	126	162	336	18
		Rent of land and subsoil assets			D45	18	18	18	18	18	18	18	18	18
	Current transfer revenue				D39 + D7	240	289	304	316	289	304	325	320	294
		Subsidies			D39	0	0	0	0	0	0	0	0	0
		Other current transfers			D7	240	289	304	316	289	304	325	320	294
			Non-life insurance claims		D72	7	7	7	7	7	7	7	7	7
			Other Domestic - Current		D7N_S1	229	238	272	272	265	255	262	265	269
			From Rest of World - Current		D7N_S2	4	45	25	36	16	42	56	48	18
	Capital transfer revenue				D9N	141	193	170	214	183	239	224	212	169

Output					P1	12,712	13,065	13,140	14,259	13,826	14,289	14,248	15,499	14,477
	Market output (sales of market establishments)				P11	0	0	0	0	0	0	0	0	0
	Output for own final use				P12	6	6	6	6	6	6	6	6	6
	Non-market output				P13	12,707	13,060	13,134	14,253	13,820	14,284	14,242	15,494	14,471
		= Non-market compensation of employees			D1_nonmarket	6,927	7,083	7,043	7,675	7,664	7,786	7,802	8,016	8,247
			= Total compensation of employees		D1	6,933	7,089	7,048	7,681	7,669	7,792	7,807	8,021	8,252
			- Compensation of employees of market establishments		D1_market	0	0	0	0	0	0	0	0	0
			- Compensation related to production of own-use capital assets		D1_own-use	-6	-6	-6	-6	-6	-6	-6	-6	-6
		+ Non-market intermediate consumption			P2_nonmarket	4,113	4,310	4,425	4,912	4,338	4,679	4,623	5,660	4,406
			= Total intermediate consumption		P2	4,113	4,310	4,425	4,912	4,338	4,679	4,623	5,660	4,406
			- Intermediate consumption of market establishments		P2_market	0	0	0	0	0	0	0	0	0
			- Intermediate consumption related to production of own-use capital assets		P2_own-use	0	0	0	0	0	0	0	0	0
		+ Non-market consumption of fixed capital			P51c_nonmarket	1,666	1,666	1,666	1,666	1,818	1,818	1,818	1,818	1,818
			= Total consumption of fixed capital		P51c	1,666	1,666	1,666	1,666	1,818	1,818	1,818	1,818	1,818
			- Consumption of fixed capital by market establishments		P51c_market	0	0	0	0	0	0	0	0	0
			- Consumption of fixed capital related to production of own-use capital assets		P51c_own-use	0	0	0	0	0	0	0	0	0
		+ Other taxes on production, payable			D29_pay	0	0	0	0	0	0	0	0	0
		- Other subsidies on production, receivable			D39_rec	0	0	0	0	0	0	0	0	0

Open in Excel: Government Finance Statistics Quarter 1 2024 Table 2.1 (XLS 15KB)

Visit Table GFQ03 on PxStat

Expenditure

At €28.3 billion, total expenditure in Q1 2024 was €1.4 billion more than last year (€26.9 billion).

Social benefits increased by €0.9 billion while there was an additional €0.6 billion on pay (compensation of employees). Gross fixed capital formation also increased by €0.2 billion.

	Compensation of employees	Intermediate consumption	Interest	Social benefits	Subsidies	Gross investment in non-financial assets	Current transfers	Capital transfers
Q1 2022	6.9	4.1	0.8	8	1.3	2	1.1	0.5
Q2 2022	7.1	4.3	0.8	8.9	0.7	2.5	1.4	0.4
Q3 2022	7	4.4	0.8	9.7	0.6	2.8	1	0.4
Q4 2022	7.7	4.9	0.9	10.4	0.8	3.3	1.4	0.5
Q1 2023	7.7	4.4	0.9	8.7	0.6	2.2	2	0.5
Q2 2023	7.8	4.7	0.9	9.8	0.6	2.8	1	0.6
Q3 2023	7.8	4.6	0.8	10.3	0.6	3.2	1	0.6
Q4 2023	8	5.7	0.8	10.8	0.7	3.8	1.3	0.6
Q1 2024	8.3	4.4	0.8	9.5	0.6	2.5	1.7	0.5

Table 2.2 General Government; detailed classification of expenditure and consumption

Table 2.2 General Government: detailed classification of expenditure and consumption
														€million
Description					ESA2010 code	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1
Total Expenditure					TE	24,670	26,110	26,930	29,922	26,880	28,091	28,900	31,655	28,292
	Expense					24,329	25,285	25,768	28,323	26,453	27,149	27,550	29,684	27,641
		Compensation of employees			D1	6,933	7,089	7,048	7,681	7,669	7,792	7,807	8,021	8,252
			Of which: Related to production of own-use capital assets			6	6	6	6	6	6	6	6	6
		Use of goods and services plus taxes payable			P2 + D5 + D29	4,113	4,310	4,425	4,912	4,338	4,679	4,623	5,660	4,406
			Use of goods and services [Intermediate consumption]		P2	4,113	4,310	4,425	4,912	4,338	4,679	4,623	5,660	4,406
				Of which: Intermediate consumption of market establishments		0	0	0	0	0	0	0	0	0
			Taxes, payable		D5	0	0	0	0	0	0	0	0	0
		Depreciation (Consumption of fixed capital)			P51c	1,666	1,666	1,666	1,666	1,818	1,818	1,818	1,818	1,818
				Of which: Depreciation by market establishments		0	0	0	0	0	0	0	0	0
		Interest (excluding FISIM)			D41	759	787	831	947	853	867	835	830	808
			Other domestic interest payable		D41_S1	108	454	432	539	198	466	341	423	154
			Interest payable to rest of world		D41_S2	651	333	398	407	655	400	494	408	654
		Subsidies			D3	1,257	734	625	807	587	616	621	721	551
			Product subsidies		D31	382	399	430	442	392	451	459	485	404
			Other subsidies on production		D39	875	335	195	365	195	165	162	237	147
		Social benefits			D62 + D632	8,058	8,863	9,722	10,439	8,654	9,776	10,293	10,782	9,541
			Social benefits in cash		D62	6,634	6,935	6,932	7,754	6,939	7,561	7,107	7,830	7,815
			Social benefits in kind (via market producers)		D632	1,423	1,928	2,790	2,685	1,714	2,216	3,186	2,953	1,727
		Other current transfers			D7	1,070	1,422	1,013	1,378	1,990	1,037	992	1,291	1,718
			Net non-life insurance premiums		D71	21	21	21	21	21	21	21	21	21
			Current international cooperation		D74	153	177	92	154	99	89	70	160	154
			Miscellaneous current transfers		D75	138	466	138	491	863	159	148	362	703
			VAT and GNI based EU budget contribution		D76	758	759	762	712	1,007	769	752	748	839
				VAT-based EU own resources	D761	77	77	77	91	58	82	85	116	205
				GNI-based EU own resources	D762	644	644	647	537	898	638	617	592	584
				Miscellaneous EU own resources	D763	37	37	37	85	51	48	50	40	51
		Capital transfers			D9	474	413	437	493	543	563	561	559	545
			Investment grants		D92	462	411	434	493	535	531	530	555	529
			Other capital transfers		D99	12	3	3	0	8	32	31	4	17
	Net acquisition of non-financial assets				P5 + NP - P51c	341	825	1,162	1,599	427	942	1,349	1,972	651
		= Gross investment in non-financial assets			P5 + NP	2,007	2,491	2,828	3,265	2,246	2,760	3,168	3,790	2,469
			Gross fixed capital formation		P51	1,981	2,466	2,803	3,240	2,199	2,714	3,121	3,743	2,423
			Net acquisition of stocks		P52	25	25	25	25	47	47	47	47	47
			Net acquisition of unproduced assets		NP	0	0	0	0	0	0	0	0	0
		- Consumption of fixed capital			P51c	-1,666	-1,666	-1,666	-1,666	-1,818	-1,818	-1,818	-1,818	-1,818
Net expenditure on current goods and services					P3 excl. D632	11,660	11,948	12,034	13,051	12,697	13,146	13,119	14,284	13,386
	= Output				P1	12,712	13,065	13,140	14,259	13,826	14,289	14,248	15,499	14,477
	- Sales of goods and services				P11+P12+P131	-1,053	-1,117	-1,105	-1,208	-1,128	-1,144	-1,129	-1,215	-1,091
			Market output (sales of market establishments)		P11	0	0	0	0	0	0	0	0	0
			Output for own final use		P12	-6	-6	-6	-6	-6	-6	-6	-6	-6
			Incidental sales and fees of non-market establishments		P131	-1,047	-1,112	-1,100	-1,202	-1,123	-1,138	-1,123	-1,209	-1,085
Final consumption expenditure					P3	13,083	13,876	14,825	15,736	14,412	15,361	16,305	17,237	15,113
	= Net expenditure on current goods and services				P3 excl. D632	11,660	11,948	12,034	13,051	12,697	13,146	13,119	14,284	13,386
	+ Social transfers in kind via market producers				D632	1,423	1,928	2,790	2,685	1,714	2,216	3,186	2,953	1,727
made up of
	Individual consumption (= social transfers in kind)				P31 (= D63)	8,196	9,112	10,465	10,832	9,175	10,168	11,627	11,876	9,551
		Social transfers in kind (via market producers)			D632	1,423	1,928	2,790	2,685	1,714	2,216	3,186	2,953	1,727
		Social transfers in kind (provided directly by government)			D631	6,773	7,183	7,675	8,146	7,461	7,952	8,441	8,923	7,824
	Collective consumption (= actual final consumption of government)				P32	4,887	4,764	4,360	4,905	5,237	5,193	4,678	5,361	5,562
Total social transfers					D62 + D63	14,831	16,047	17,397	18,586	16,114	17,729	18,734	19,706	17,365
	Social benefits in cash				D62	6,634	6,935	6,932	7,754	6,939	7,561	7,107	7,830	7,815
	Social transfers in kind (= individual consumption)				D63	8,196	9,112	10,465	10,832	9,175	10,168	11,627	11,876	9,551