Ireland far exceeds forecasts with 5.2 billion euro surplus for 2022

DUBLIN (Reuters) - Ireland recorded a budget surplus of around 5.2 billion euros ($5.5 billion) in 2022, far in excess of the 1 billion euros projected just over three months ago, the finance ministry said on Wednesday.

The turnaround from a deficit of 3% of gross national income in 2021 reflected a fall in COVID-19 related spending and strong tax revenue growth.

VAT and income tax grew by 21% and 15% year-on-year, while corporate tax receipts jumped by 48% to a record 22.6 billion euros.

($1 = 0.9443 euros)

(Reporting by Padraic Halpin; Editing by Mark Potter)