MNI: Canada Apr-Dec Budget Deficit CAD21.7B Vs Prior CAD23.6B
MNI (OTTAWA) - Canada's budget deficit from April to December narrowed to CAD21.7 billion from CAD23.6 billion a year earlier, the finance department reported Friday.
Revenue rose 11.8% or by about CAD38 billion while program spending rose 10.7% or about CAD32 billion. Public debt charges rose 17.3% or CAD6.1 billion.
For the month of December there was a CAD1 billion surplus, a swing from the CAD4.5 billion a year earlier.
The fiscal outlook upended Canada's government late last year when Chrystia Freeland quit as finance minister rather than deliver an update she said contained fiscal gimmicks instead of preparing for a U.S. trade war. Shortly after Justin Trudeau said he would step down as prime minister in March. Former BOC Governor Mark Carney is the leading candidate to win the March 9 vote to replace Trudeau as Liberal leader and prime minister. (See: MNI: Trudeau Privy Advisers Studied Sticky CPI, Higher Rates)
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