Federal government posts $7.3B deficit between April and July
The federal government's deficit has grown to $7.3 billion so far this fiscal year. The Confederation building on Parliament Hill is reflected in the windows of the Bank of Canada in Ottawa on Monday, May 6, 2024. THE CANADIAN PRESS/Sean Kilpatrick
The federal government's deficit has grown to $7.3 billion so far this fiscal year.
The Finance Department's latest fiscal monitor says the deficit between April and July compares with a $1.2 billion deficit over the same period last year.
Revenues during the four-month period increased by $14.9 billion, or 10.2 per cent, from April to July 2023.
Program expenses excluding net actuarial losses were up $17.5 billion, or 13.5 per cent, as the federal government spent more on programs and transfers to provinces and territories.
Public debt charges rose by $4.2 billion, or 28.8 per cent, due to higher interest rates.
Net actuarial losses fell by $0.8 billion, or 23.2 per cent.
This report by The Canadian Press was first published Sept. 27, 2024.
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Opinion
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Sci-Tech
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Local Spotlight
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Vancouver
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Toronto
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Calgary
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Calgary MP Stephanie Kusie launches Parliamentary petition to save Olympic Plaza bricks
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Para Powerlifting gets big boost from paralympic builder with a development camp for athletes
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Ottawa
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Taylor Swift tickets being auctioned off to help fund for Ottawa boy with rare disease
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17-year-old charged for driving 188 km/h on Hwy. 417 in Ottawa
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15-year-old found dead in eastern Ontario, teen facing second-degree murder charge: OPP
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Montreal
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Synthetic drug potency increases, raising overdose risks for youth
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Unlocking the black box of early human development without an egg, sperm, or womb
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Edmonton
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Woman dead after being hit by Jeep at north-central Edmonton intersection
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Draisaitl scores in OT to lift Oilers over Red Wings
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Governor-General meets Albertans, hears about 'challenges they're facing'
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Atlantic
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Nova Scotia Calls General Election for Nov. 26
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Water Service disrupted for repair in Halifax
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Nova Scotia RCMP investigating fatal crash
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Winnipeg
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Winnipeg police search for suspect after machete attack
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Some say it's time for Canada to criminalize residential school denialism
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Regina
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Where to watch Saskatchewan's 2024 provincial election
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Regina Thunder falls to Okanagan Sun 28-14 in CJFL semi-final
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Saskatchewan NDP host final rally before election day
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Kitchener
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Halloween dress up golf event at Merry-Hill Golf Club
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Police investigating after Guelph home invasion
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Baby Show helps expecting and new moms have everything they need
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Saskatoon
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Where to watch Saskatchewan's 2024 provincial election
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Saskatchewan prepares for Monday election results
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Saskatoon fire department investigating major house fire
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Northern Ontario
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Ontario Premier Doug Ford to visit Sudbury on Monday
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Trump refers to CNN's Anderson Cooper by a woman's first name
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London
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Hollywood star Victor Garber gets emotional after surprise meeting with his former teacher in London, Ont.
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Barrie
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Ontario man tells police he harmed two family members, three found dead
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Around $10K stolen from jewelry store in alleged break and enter
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Driver charged after striking OPP cruiser
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Windsor
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Robbery by the railroad ends with arrest for Chatham man
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Donations diverted from landfill at 2nd annual Green Expo
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Vancouver Island
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Island's first trauma-informed, Indigenous-specific child-care centre opens in Colwood
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Kelowna
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Pickup truck may be linked to suspicious deaths, RCMP say 2 years after bodies found in B.C. park
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B.C. homeowner astounded someone managed to steal one of his prized giant pumpkins
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B.C. man gets prison sentence, fine for using fake names to buy guns in the U.S.
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Lethbridge
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City of Lethbridge reaches tentative agreement with 900 CUPE employees on new deal
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Hurricanes lose third road game in a row, dropping 4-1 decision to Broncos in Swift Current
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City of Lethbridge and local post-secondaries discuss how to keep graduates in the city
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Sault Ste. Marie
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Sault Ste. Marie woman takes 9th place in world triathlon championship in Spain
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Creditors bid to take ownership of northern Ont. properties held by insolvent companies
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Northern Ont. police cleared in case of woman who was high on drugs bitten by police dog
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N.L.
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Women's hockey is growing, but junior athletes play fewer competitive years on average. A new league aims to change that
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Remains of missing Kansas man found at scene of western Newfoundland hotel fire
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77-year-old Kansas man missing after hotel fire in western Newfoundland
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