Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Canada's budget deficit in the first three months of the fiscal year was CAD36.5 billion, narrowing from CAD120 billion in the prior period that reflected massive pandemic income supports. The June deficit narrowed to CAD12.7 billion from CAD33.6 billion, the federal finance department said Friday.
Over the April to June period, revenue rose 70% from a year earlier to CAD89.2 billion. Program expenses fell 30% to CAD116 billion. The government's cash balance, built up during the heavy borrowing amid the crisis, shrank to CAD62.6 billion from CAD155 billion.
Liberal Prime Minister Justin Trudeau this month called a snap election for Sept. 20 seeking a majority mandate to extend record deficit spending to pull the economy through the pandemic, a fiscal stance opposition parties largely agree with. Finance Minister Chrystia Freeland in April booked a record CAD354 billion deficit for the fiscal year ending in March and called for another CAD155 billion deficit in this period.
Source: Finance Department
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.