Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Canada's finance department on Friday reported the smallest monthly budget deficit since February 2020 before the pandemic took hold, shrinking to CAD3.7 billion in October from CAD18.5 billion a year earlier.
Revenue climbed 31% and program expenses declined 14% from a year earlier. The deficit for the fiscal year that began in April narrowed to CAD72 billion from the prior CAD217 billion. Canada also has CAD61 billion of cash on its books built up in the pandemic for in case of quick spending needs.
"The government’s 2021–22 financial results show a marked improvement compared to the peak of the COVID-19 crisis reached in early 2020–21, and the unprecedented level of temporary COVID-19 response measures at the time," the Fiscal Monitor report said. Finance Minister Chrystia Freeland on Tuesday shaved deficit forecasts and said the economy may regain pre-pandemic GDP in the next few months.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.