first_imgFeatured Stories Twitter Join the conversation → Comment May 31, 20191:26 PM EDT Filed under News Economy More Sponsored By: OTTAWA — A preliminary estimate by the Finance Department says the federal government posted a deficit of $11.8 billion for its 2018-19 fiscal year.The shortfall compared with a deficit of $16.7 billion for 2017-18.The Liberals’ spring budget had forecast a deficit of $14.9 billion for the 2018-19 fiscal year which ended on March 31. Canada posts weakest back-to-back quarters of growth since 2015 — but that’s not the whole story Stephen Poloz’s dashboard: Why Canada’s economy is not in as bad shape as it looks Wilkins sets the record straight on Bank of Canada’s thinking on its rate hold The shortfall came as the monthly fiscal monitor report said revenue rose $24.7 billion, or 8.1 per cent, due to increases in tax revenues and other revenues.Program expenses gained $18.5 billion, or 6.2 per cent, as major transfers to persons, major transfers to other levels of government and direct program expenses moved higher.Public debt charges increased $1.4 billion, or 6.3 per cent, due to a higher average effective interest rate on the stock of interest-bearing debt. ← Previous Next → This year’s shortfall compared with a deficit of $16.7 billion for 2017-18.Canadian Press Share this storyOttawa racks up $11.8 billion deficit for the year — that’s better than last year and better than forecast Tumblr Pinterest Google+ LinkedIn center_img What you need to know about passing the family cottage to the next generation Recommended For YouChinese data, Antofagasta help FTSE 100 end longest losing streak in yearsDesjardins announces permanent digital protection to all members following breachIngram Micro Announces First Global Competition to Find the Next Revolutionary StartupsBroadbandTV Corp. Partners with Snapchat to bring new Creator Shows to LifeUAW head wants union to share in profits of U.S. automakers Ottawa racks up $11.8 billion deficit for the year — that’s better than last year and better than forecast Revenue up 8.1%; spending up 6.2% The Canadian Press Reddit 66 Comments Email Facebook advertisementlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *