The federal government has a deficit of 5.9 billion

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For the single month of September, the federal government posted a budgetary deficit of $ 3.2 billion.

Ottawa – The federal government posted a budgetary deficit of 5.9 billion during the first half of its fiscal year, a shortfall less important than those recorded during the same period a year earlier.

 

During the months of April to September of the fiscal year 2016-17, the liberals had achieved a deficit of $ 7.8 billion.

 

For the single month of September, the government posted a budgetary deficit of $ 3.2 billion, which was higher than that of $ 2.4 billion the same month a year earlier.

 

In its most recent financial review, published Friday, the government said that its revenue for the first six months had increased from $ 6.9 billion, or 4.9 %, compared to last year, to reach chf 146.3 billion. Income tax on the income of individuals and corporations rose by 6.2 % and 6.8 %, respectively, compared to last year. Taxes and excise duties amounted to $ 2.3 billion, or 8.9 % more than last year, and GST revenues have grown from $ 2 billion, or 11.5 %. The energy taxes have increased by about 100 million, or 2.9 %.

 

Program spending rose by $ 5.7 billion, or 4.2 %, to $ 140,4 billion. The public debt charges decreased by $ 600 million, or 5.1 %, to 11.9 billion, notably thanks to a lower average effective interest rates for.

 

In his economic update fall, the government foresaw a budget deficit of 18.4 billion for the current fiscal year, down compared to $ 25.5 billion as originally planned in his march budget. For the fiscal year that will begin in April 2018, the liberals are betting now on a deficit of 15.6 billion, while their projection was 24.4 billion in the spring.

 

 

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