OTTAWA — The federal government posted a surplus of $10.2 billion in the first quarter of the fiscal year.
According to the Finance Department’s monthly fiscal monitor report, the surplus posted for April to June compared with a deficit of $36.5 billion during the same period last year.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Revenue was up $18.7 billion, or nearly 21 per cent, while program expenditures fell by $29 billion or 25 per cent largely due to lower transfers to individuals and businesses. The report says public debt charges rose by $2.3 billion or nearly 39 per cent primarily due to inflation and rising interest rates.This report by The Canadian Press was first published Aug. 26, 2022.
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