Most of this is thought to come from income tax and VAT, rather than corporate tax, signifying the genuine health of the economy when multinationals are factored out.

The 12-month rolling figure for the Exchequer surplus was €5.6 billion, which, according to the Department of Finance, is a more accurate measure of economic health.

Recently, figures from Eurostat showed Ireland as having the largest budget surplus in the EU for Q3 2022, tallied at 3.1% of GDP, as opposed to the EU average of -3.2%.

The strong surplus may indicate that the nation has so far avoided a recession.