Canada's Finance Department reported a $2.9B deficit in Q2, up from $3.6B surplus in 2021.

Canada's Finance Department reported a $2.9B deficit during April-June, significantly up from last year's $3.6B surplus. Higher program expenses, increased public debt charges due to higher interest rates, and a decrease in net actuarial losses contributed to this increase. Revenue increased from $110.6B to $120.4B, while net actuarial losses decreased from $2.5B to $1.9B.

August 30, 2024
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