Fiscal Monitor for June 2012

For the first three months of fiscal year 2012-13 (April to June), the federal government posted a deficit of $2.0 billion, less than half of the $4.2 billion deficit reported in the same period in 2011-12.  This is encouraging news, although at least five to six months of financial data are usually required before one can properly assess the current results to the latest budget forecast for the year as a whole.  In addition, final results for 2011-12, which will be released in the early fall, are required to fully understand the current year’s fiscal results.  For examp

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