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Federal government posts $4.3 billion deficit between April and August this year

OTTAWA 鈥� The federal government posted a budgetary deficit of $4.3 billion from April to August. In its monthly fiscal monitor, the Finance Department says this compares to a surplus of $3.9 billion during the same period of the 2022-23 fiscal year.
91原创 Press
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Deputy Prime Minister and Minister of Finance Chrystia Freeland listens to a question during a news conference Tuesday, October 24, 2023 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

OTTAWA — The federal government posted a budgetary deficit of $4.3 billion from April to August.

In its monthly fiscal monitor, the Finance Department says this compares to a surplus of $3.9 billion during the same period of the 2022-23 fiscal year. 

Government revenues increased $2.4 billion, or 1.4 per cent, largely due to higher interest revenues and other non-tax revenues.

Program expenses excluding net actuarial losses increased $7.4 billion, or 4.8 per cent. 

Public debt charges grew by $4.1 billion, or 27.7 per cent, largely due to higher interest rates. 

Net actuarial losses decreased by $0.9 billion, or 22.7 per cent, compared to the same period last year. 

This report by The 91原创 Press was first published Oct. 27, 2023.

The 91原创 Press