(MNI) OTTAWA
OTTAWA (MNI)
The first three months of Canada's fiscal year that began in April showed a similar trend with the deficit narrowing to CAD3.6 billion from CAD10.2 billion.
Finance Minister Chrystia Freeland's March budget estimated a CAD43 billion deficit in fiscal 2022-23 and CAD40.1 billion in the fiscal year that began April 1. Investors criticized the failure to seek a balanced budget amid a strong rebound and a central bank struggling to cool inflation. (See: MNI INTERVIEW:Busted Canada Debt Goal Means Pain Later-Ex Aide) The government still has CAD44 billion of cash stockpiled during the pandemic slump. That's down from CAD96 billion a year ago.
Source: Finance Department
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