Sat. Mar 2nd, 2024

Deficit of 15 $1 billion from April to October for the federal government

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The federal government has recorded a budget deficit of $7 billion for the month of October.

The Canadian Press

The federal government recorded a budget deficit of $15.1 billion from April to October, including $7 billion for the month of October, according to the Ministry of Finance's monthly financial report. /p>

The deficit for the comparable period last year was $0.2 billion.

State revenue increased by $3 billion, or 1.2 percent, due to higher interest and fee income ;other non-tax revenue.

Program spending, excluding net actuarial losses, increased by $11.8 billion, or 5.4%, compared to the same period last year. #x27;previous year. Spending in all major categories increased.

Debt service increased by $7.5 billion, or 38.1 percent, largely due to higher interest rates but partly offset by lower interest on debt obligations. real return linked to the consumer price index.

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Net actuarial losses decreased by $1.3 billion, or 23.2%, compared to the same period last year.

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