Federal government posts $14.5-billion deficit for April-to-October period

OTTAWA – The Finance Department says the federal deficit was $14.5 billion between April and October.

That compares to a $15.1 billion deficit over the same period last year.

According to the monthly fiscal monitor, revenues were up $26.5 billion, or 10.7 per cent, compared with the same stretch in the previous fiscal year as revenues rose in all categories.

The finance department says program expenses excluding net actuarial losses were up $22.7 billion, or 9.8 per cent, driven by increases in direct program expenses, major transfers to persons, and major transfers to provinces, territories and  municipalities.

Public debt charges were up by $5.3 billion, or 19.4 per cent, mostly reflecting higher interest rates on marketable bonds and treasury bills.

Net actuarial losses were down by $2.1 billion, or 46.8 per cent. 

This report by The Canadian Press was first published Dec. 20,  2024.

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