Federal Government Posts $8.2 Billion Deficit Between April and September This Year

Federal Government Posts $8.2 Billion Deficit Between April and September This Year
Minister of Finance Chrystia Freeland speaks in the House of Commons after she delivered the 2023 Fall Economic Statement in the House of Commons in Ottawa, on Nov. 21, 2023. The Canadian Press/Adrian Wyld
The Canadian Press
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The federal government recorded a budgetary deficit of $8.2 billion between April and September, $3.9 billion of which was in September.

The finance department says in its monthly fiscal monitor that the deficit between April and September compared to a surplus of $1.7 billion during the same period last year.

Government revenues increased by $3.5 billion, or 1.7 percent, a reflection of higher interest revenues and other non-tax revenues.

Program expenses excluding net actuarial losses were up $8.9 billion, or 4.8 percent, from the same period a year earlier.

Public debt charges were up $5.7 billion, or 33.1 percent, largely due to higher interest rates but partly offset by lower Consumer Price Index adjustments on Real Return Bonds.

Net actuarial losses decreased by $1.1 billion, or 23.2 percent, compared with the same period last year.