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MNI: Canada Apr-Jun Budget Surplus Defies Deficit Projection

(MNI) Ottawa
OTTAWA (MNI)

Canada posted a CAD4.9 billion budget surplus in June to bring the total in the first three months of the fiscal year to CAD10.2 billion, a show of strength as the government projects a big deficit with pandemic supports unwinding.

The June surplus compared with a CAD12.7 billion deficit a year earlier, the Finance Department's monthly Fiscal Monitor report showed Friday. Federal government revenue climbed 22% or CAD6.6 billion in June from a year earlier and program spending fell 28% or by CAD11.1 billion.

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Canada posted a CAD4.9 billion budget surplus in June to bring the total in the first three months of the fiscal year to CAD10.2 billion, a show of strength as the government projects a big deficit with pandemic supports unwinding.

The June surplus compared with a CAD12.7 billion deficit a year earlier, the Finance Department's monthly Fiscal Monitor report showed Friday. Federal government revenue climbed 22% or CAD6.6 billion in June from a year earlier and program spending fell 28% or by CAD11.1 billion.

Keep reading...Show less