Canada's federal government reported a $9.8B deficit in Apr-Aug, up from $4.3B, due to revenue growth and increased expenses.
During the April-to-August period, Canada's federal government reported a $9.8 billion deficit, up from $4.3 billion the previous year. Revenue increased by 9.3% ($16.7 billion), driven by growth in major categories. Program expenses rose by 11% ($17.9 billion), largely due to higher spending on direct programs and transfers. Additionally, public debt charges increased by 23.1% ($4.4 billion) due to rising interest rates on bonds and treasury bills.
October 25, 2024
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