Canadian government reports $13B deficit in first half of 2024, up from $8.2B last year.

The Canadian federal government reported a $13 billion deficit for the first half of the 2024 fiscal year, up from $8.2 billion last year. Revenues increased by 9.6% to $20.3 billion, while expenses rose by 11.2% due to higher spending and transfers. Public debt charges also jumped by 22.5% due to higher interest rates, despite a 46.8% decrease in net actuarial losses and gains.

November 29, 2024
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