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.
This report by The Canadian Press was first published April 25, 2025.
The Canadian Press
