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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Toronto
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Protest over sudden closure of beloved Montreal music venue La Tulipe
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Edmonton
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Atlantic
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Winnipeg
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Regina
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Kitchener
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Saskatoon
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EXCLUSIVE
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Northern Ontario
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Vancouver Island
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B.C. NDP adds fast-tracking pre-fabricated homes to housing plans ahead of election
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Kelowna
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Lethbridge
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Thousands of baby turkeys killed in Vulcan County barn fire
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Peace bonds, withdrawn charges for Lethbridge high school football players accused of sexual assault
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Sault Ste. Marie
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Identity theft charges after southern Ont. suspect tried to buy $30K boat in northern Ont.
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Northern Ont. group fined $8,500 for moose hunt violations
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N.L.
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Small English soccer team has huge year, thanks in part to Newfoundland and Labrador
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Luck of the draw: N.L. ads to be featured in match against football giants Chelsea
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Newfoundland and Labrador monitoring rise in whooping cough cases: medical officer
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