October 2018

Fiscal Monitor for April – August 2018

The federal government posted a deficit of $1.9 billion in August 2018, compared to a deficit of $2.6 million in August 2017.  Budgetary revenues were up 10.4%, reflecting strong increases in all major components.  Program expenses advanced 6.0%, due largely to higher other transfers and personnel expenses.  Public debt charges were up 10.9% due largely to an increase in the average effective interest rate.

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Deficit for 2017-18 Virtually Unchanged from 2016-17

Last week the Minister of Finance released the Annual Financial Report (AFR) for 2017-18 showing the deficit for last fiscal year at $19.0 billion, virtually unchanged from the restated deficit for 2016-17.

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