That's according to the latest report from the Economic and Social Research Institute.
The think tank predicts that Ireland will easily achieve the European Commission target of having a deficit that's less three per cent of GDP.
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The report expects our GNP will grow at five per cent a year in 2014 and 2015.
Kieran McQuinn, Associate Research Professor with the ESRI, says this brighter outlook means the government could even reach a deficit of 2 per cent next year: