Minister of Finance Chrystia Freeland responds to a question from the Opposition after she delivered the 2023 Fall Economic Statement in the House of Commons, Tuesday, November 21, 2023 in Ottawa. The federal government recorded a budgetary deficit of $3.9 billion in September.THE CANADIAN PRESS/Adrian Wyld
OTTAWA – The federal government recorded a budgetary deficit of $8.2 billion between April and September, $3.9 billion of which was in September.
The finance department says in its monthly fiscal monitor that the deficit between April and September compared to a surplus of $1.7 billion during the same period last year.
Government revenues increased by $3.5 billion, or 1.7 per cent, a reflection of higher higher interest revenues and other non-tax revenues.
Program expenses excluding net actuarial losses were up $8.9 billion, or 4.8 per cent, from the same period a year earlier.
Public debt charges were up $5.7 billion, or 33.1 per cent, largely due to higher interest rates but partly offset by lower Consumer Price Index adjustments on Real Return Bonds.
Net actuarial losses decreased by $1.1 billion, or 23.2 per cent, compared with the same period last year.
This report by The Canadian Press was first published Nov. 21, 2023.
