Ottawa Posts $19.3-Billion Deficit for April-to-February Period of 2024-25

The federal government posted a budgetary deficit of $19.3 billion for the April-to-February period of its 2024-25 fiscal year.

The result compared with a deficit of $17.3 billion reported for the same period of 2023-24.

According to the Finance Department’s monthly fiscal monitor, revenue for the 11-month period totalled $449.8 billion, up from $405.7 billion a year earlier, helped by increases in all major categories.

Program expenses excluding net actuarial losses amounted to $416.1 billion, up from $373.2 billion, on higher spending across all major categories, led by direct program expenses.

Public debt charges totalled $49.3 billion, up from $42.9 billion.

Net actuarial losses were $3.7 billion compared with $6.9 billion a year earlier.

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