Tag: Lilliana

Ottawa racks up 118 billion deficit for the year — thats betterOttawa racks up 118 billion deficit for the year — thats better

OTTAWA — A preliminary estimate by the Finance Department says the federal government posted a deficit of $11.8 billion for its 2018-19 fiscal year.The shortfall compared with a deficit of $16.7 billion for 2017-18.The Liberals’ spring budget had forecast a deficit of $14.9 billion for the 2018-19 fiscal year which ended on March 31. Canada posts weakest back-to-back quarters of growth since 2015 — but that’s not the whole story Stephen Poloz’s dashboard: Why Canada’s economy is not in as bad shape as it looks Wilkins sets the record straight on Bank of Canada’s thinking on its rate hold The shortfall came as the monthly fiscal monitor report said revenue rose $24.7 billion, or 8.1 per cent, due to increases in tax revenues and other revenues.Program expenses gained $18.5 billion, or 6.2 per cent, as major transfers to persons, major transfers to other levels of government and direct program expenses moved higher.Public debt charges increased $1.4 billion, or 6.3 per cent, due to a higher average effective interest rate on the stock of interest-bearing debt. read more