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MNI: Canada Apr-Sept Budget Deficit Widens On Spending

Policy NewsHomepageCanadaBriefStoryNorth America

MNI (OTTAWA) - Canada's budget deficit widened to CAD13 billion over the first six months of the fiscal year compared with CAD8.2 billion in the previous period as spending and interest charges rose faster than revenue, another sign Parliament's budget office is correct in predicting the government is on track to break its fiscal anchor.

Program expenses excluding net actuarial losses were up CAD21.7 billion or 11%, and public debt charges increased CAD5.2 billion, or more than 22%, according to the Finance Department's Fiscal Monitor published Friday. Revenues climbed CAD20.3 billion or 9.6%. 

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MNI (OTTAWA) - Canada's budget deficit widened to CAD13 billion over the first six months of the fiscal year compared with CAD8.2 billion in the previous period as spending and interest charges rose faster than revenue, another sign Parliament's budget office is correct in predicting the government is on track to break its fiscal anchor.

Program expenses excluding net actuarial losses were up CAD21.7 billion or 11%, and public debt charges increased CAD5.2 billion, or more than 22%, according to the Finance Department's Fiscal Monitor published Friday. Revenues climbed CAD20.3 billion or 9.6%. 

Keep reading...Show less