The government deficit reduced slightly in the third quarter of last year. It amounted to over €2.8 billion, representing 6.8% of quarterly GDP.

In the same quarter of 2012 the deficit was over €3 billion - or 7.4% of quarterly GDP.

Government revenue for the quarter also dropped to €13.8 million.

The Central Statistics Office (CSO) says this was due to both increased revenue from taxes and social contributions, but also offset by decreases in other revenue.

Meanwhile expenditure was reduced to €16.6 million.

The CSO says general Irish government gross debt stood at €204.7 billion - or 124.8% of annual GDP - at the end of the third quarter.

When seen as percentages of GDP, both gross and net debt showed a small decrease on the level in the previous quarter.