Click below to read AIB's Irish Economy Update for the 2024 Budget.
Strong Public Finances
Today’s budget was set against the backdrop of a continuing high level of inflation, though it is well down from last year’s peak, with the annual HICP rate now running at 5.0%.
The cost of the package at €2.7bn, is also down from the €4bn in supports announced in last year’s budget,
The budget also provided for the usual broad array of increased spending across Government departments. In total, core government spending will rise by €5.3bn or 6.1% in 2024, which includes an 8.8% increase in capital expenditure.
The Dept. of Finance is expecting a general government budget surplus of €8.8bn, or 3% of GNI* in 2023, up slightly from €8.5bn last year.
