The Department of Health expenditure was at almost €9 billion to end-May, reflecting the prevalence of COVID-19 during the earlier part of the year.
Minister for Finance Paschal Donohoe said: “Today’s figures show that tax receipts remain robust with strong growth evident in the vast majority of tax heads.
“While the annual comparisons are distorted due to a number of factors, in particular the public health restrictions that were in place last year, the underlying trends are a good signal of the continued momentum in the domestic economy.
“However, given global inflationary pressures, monetary policy may become less accommodative going forward.
“Indeed, we can no longer assume that the highly favourable interest rate environment that has prevailed recently will continue.
“What is clear is that the higher our level of public debt, the more severe the implications of any rise in borrowing costs will be.
“We also know that our prospects for affordable borrowing costs are improved with careful management of the public finances.
“It is crucial that we use the strong momentum in the public finances to rebuild and reinforce our fiscal buffers so that, in this ever more uncertain world, we retain our ability to swiftly and effectively respond to future shocks.
“There are many challenges to meet, but there are also opportunities to seize, if we make the right decisions now.”