In September 2013 Ottawa’s deficit was $3.8 billion but a year later Finance Canada has just announced a small surplus of $379 million.
In September 2013 Ottawa’s deficit was $3.8 billion but a year later Finance Canada has just announced a small surplus of $379 million. While the figure for the whole of the current fiscal year is still going to be negative, the halfway point figure of a $744 million deficit improves massively on the $10.3 billion at the same point in the year before. Lower spending and higher revenues have resulted in the turnaround although estimates have been revised downwards on lower oil revenues and may prove to be lower still.
