2024/25 fiscal year's first four months saw Canada's budget deficit rise to C$7.3B due to increased spending and debt charges, despite revenue growth.

Canada's budget deficit for the first four months of the 2024/25 fiscal year rose to C$7.3 billion, up from C$1.24 billion in the same period last year. This increase is due to a 13.5% rise in government spending and a 28.8% jump in public debt charges, despite a 10.2% growth in revenues. In July alone, the deficit decreased to C$4.41 billion from C$4.86 billion in July 2023.

September 27, 2024
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