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MNI: Canada Has Biggest Monthly Budget Surplus Since Pandemic

(MNI) Ottawa

Canada reported its largest monthly budget surplus since the pandemic took hold, further evidence the economy is running full tilt again as the government plans to keep boosting spending.

The February surplus was CAD5.5 billion versus a deficit of CAD14.4 billion a year earlier, according to the Finance Department's Fiscal Monitor report released Friday. Revenue climbed 48% from a year earlier as the economic recovery boosted taxes and program spending fell 14% on decreased Covid benefits like wage subsidies.

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Canada reported its largest monthly budget surplus since the pandemic took hold, further evidence the economy is running full tilt again as the government plans to keep boosting spending.

The February surplus was CAD5.5 billion versus a deficit of CAD14.4 billion a year earlier, according to the Finance Department's Fiscal Monitor report released Friday. Revenue climbed 48% from a year earlier as the economic recovery boosted taxes and program spending fell 14% on decreased Covid benefits like wage subsidies.

Keep reading...Show less