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Canada's budget deficit over first three months of 2026/27 shrinks to C$370 million
Revenue rose to $132.64 billion, but higher program spending, actuarial losses and debt charges left Ottawa with a small quarterly deficit.
- On Friday, the Finance Department reported Canada posted a $370 million federal deficit for the April-to-June period, significantly lower than the $6.28 billion deficit recorded during the same period last year.
- Year-to-Date revenues grew 9.8% largely from higher income tax and GST receipts, while program expenses rose 4.3% across most spending categories.
- Public debt increased by 6.1% due to higher interest rates on marketable bonds, while net actuarial losses reached $1.25 billion for the quarter.
- In June, Canada recorded a $989 million surplus, providing a monthly bright spot against the broader quarterly deficit.
- Expenditures slightly outpaced revenue growth during the first three months of the fiscal year, resulting in this $370 million shortfall compared to last year's $6.28 billion deficit.
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Canada's budget deficit over first three months of 2026/27 shrinks to C$370 million
OTTAWA, August 28 (Reuters) - Canada recorded a sharply lower C$370 million ($266.57 million) budget deficit for the first three months of the 2026/27 fiscal year as government expenditures grew slightly faster than revenues, the finance ministry said on Friday.
·London, United Kingdom
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Total News Sources9
Leaning Left3Leaning Right0Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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