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Ottawa Posts $5.36B Deficit for First Five Months of 2026-27 Fiscal Year
Finance Department data show revenues rose 7.1% while the deficit fell to C$5.36 billion, helped by higher personal income tax and GST receipts.
- On Friday, the Finance Department reported Canada's budget deficit for the April-to-August period fell to C$5.36 billion, a significant decrease from the C$11.07 billion deficit recorded in the same period last year.
- Year-to-Date revenues grew 7.1%, driven largely by higher personal income tax and GST collections, which outpaced rising government expenditures.
- The Finance Department published these results on Friday, highlighting a stabilizing fiscal trend as revenue growth continues to offset inflationary pressures throughout the 2026/27 fiscal year.
- Program expenses rose 4.7% due to increased operating costs, while public debt climbed 9.1% as higher interest rates pushed debt charges to $25.10 billion.
- The monthly deficit dropped sharply to C$233 million in August, while Canada recorded $150 million in net actuarial gains compared to a $2.08 billion loss a year earlier.
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The federal government recorded a deficit of $5.36 billion in the first five months of fiscal year 2026-2027.
·Montreal, Canada
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Coverage Details
Total News Sources33
Leaning Left22Leaning Right0Center9Last UpdatedBias Distribution71% Left
Bias Distribution
- 71% of the sources lean Left
71% Left
L 71%
C 29%
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