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MNI: Canada Budget Breaks Last Fiscal Anchor As GDP Stalls

CANADA

Canada broke its last fiscal anchor of a steady decline in debt to GDP with a budget that boosts spending into a mild recession. That ratio climbs to 43.5% from 42.4% in the fiscal year starting April 1, according to a budget presented to Parliament Tuesday by Finance Minister Chrystia Freeland. The deficit for fiscal 2023-24 climbs to CAD40.1 billion versus an estimate last fall of CAD30.6 billion, while nominal GDP growth that’s the best measure of the tax base slumps to 0.9% this year from 11% in 2022 -- on MNI Policy MainWire now, for more details please contact sales@marketnews.com.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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