60348
Canada Deficit Near $14b
Canada Deficit Near $14b

Canada Deficit Near $14b

Canada Deficit Near $14b

The federal government ran a budgetary shortfall of $14 billion over the first nine months of the fiscal year, compared with a $3.2 billion surplus over the same period a year earlier. Canada’s Finance Department’s monthly fiscal monitor says federal program expenses between April and December rose $16.7 billion, or 8.8%, compared with the same stretch a year ago, CBC reported. A closer look at the numbers shows that major government transfers to individuals, including seniors benefits, were up $5.7 billion, or 9.3%, while direct-program spending rose $8.9 billion, or 11.3%. Government revenues, such as those pulled in from income taxes, were down $1.9 billion or 0.9% compared with 2015-16. The (Prime Minister Justin) Trudeau government is projecting a $25.1-billion deficit for 2016-17 as part of its plan to run several double-digit shortfalls over the coming years in an effort to lift the economy through infrastructure investments and larger child benefits. The finance department also says Ottawa posted a $1.3 billion deficit in December alone—compared to a $2.2 billion surplus in December 2015.

Short URL : https://goo.gl/4ipT9I
  1. https://goo.gl/j0IaYX
  • https://goo.gl/yBEb83
  • https://goo.gl/GOqA0B
  • https://goo.gl/hOknak
  • https://goo.gl/0uNGbv

You can also read ...

The World Bank forecasts Russia's economy will grow by 1.7% this year and next, and by 1.8% in 2019.
The economy in Europe and Central Asia will grow 2.2% in 2017...
US Unfreezes Sudan Bank A/Cs
The United States has unfrozen bank accounts in Sudan after...
Participants pose for a family photo during the opening ceremony of D8 Organization for Economic Cooperation Summit in Istanbul on Oct. 20.
Turkey's Foreign Minister Mevlut Cavusoglu on Thursday said...
GM Closure Ends Australia’s Car Manufacturing Industry
Australia’s near 100-year automotive industry ended on Friday...
Digital Changes to Better Shape Asean Economy
Member states of Asean must be ready to embrace technological...
Wall Street Banks Sound Alarm on Stock-Market Correction
The S&P 500 hasn't seen a correction in almost two years....
Italy Q3 Growth at 0.5%
Italy’s economic growth improved slightly in the third quarter...
Despite intensifying property curbs and higher mortgage rates, Chinese banks issued $664.70 billion of property loans in the first nine months of this year.
China's central bank governor has warned the country's...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus