Canadian federal government recorded $3.9B deficit in April-May, up from $1.5B surplus, due to higher expenses, debt charges, and interest rates.
The Canadian federal government recorded a $3.9 billion deficit for April and May, up from the $1.5 billion surplus in the same period last year. The increase is due to a 15.9% rise in program expenses and a 33.8% increase in public debt charges resulting from higher interest rates, despite an 8.9% increase in overall revenues driven by higher tax revenues. Net actuarial losses decreased by 23.2%.
July 26, 2024
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