The federal government in Ottawa posted a budget deficit of $75.3 billion for the April-to-January period of its 2021–22 fiscal year.
In its monthly fiscal monitor report, the federal Finance Department said the latest deficit numbers compared with a deficit of $268.2 billion in the same period a year earlier during the depths of the pandemic.
Program expenses totalled $360.2 billion for the 10-month period, down from nearly $474 billion a year earlier.
Public debt charges rose to $20.7 billion compared with $17.2 billion in the same period a year earlier. Revenue for the period was $314.2 billion, up from $235.8 billion.
Net losses for the period totalled $8.6 billion compared with $12.8 billion a year ago.
Ottawa’s fiscal year runs from April 1 to March 31.
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