The federal government budget deficit reached $ 69.8 billion for the April-February period of its 2021-22 fiscal year, with rising revenue and declining spending.
In the same period in 2020-21, the recorded deficit was $ 282.6 billion, the finance ministry said in its monthly review.
In fiscal year 2021-22, program spending, excluding net actuarial losses, reached $ 395.5 billion. This amount is down from $ 514.8 billion recorded in the 11 -month period last year.
This decrease is due to the decrease in transfers to individuals, businesses and other administrations under the government’s economic intervention plan.
Public debt charges rose to $ 22.3 billion from $ 18.6 billion last year.
Revenue for the period was $ 357.4 billion, compared to $ 264.9 billion in the first 11 months of the last fiscal year, mainly due to higher taxes and other revenues.
Net actuarial losses for the period reached $ 9.5 billion, compared to $ 14.1 billion last year.
Source: Radio-Canada
