October 2018
Fiscal Monitor for April – August 2018
The federal government posted a deficit of $1.9 billion in August 2018, compared to a deficit of $2.6 million in August 2017. Budgetary revenues were up 10.4%, reflecting strong increases in all major components. Program expenses advanced 6.0%, due largely to higher other transfers and personnel expenses. Public debt charges were up 10.9% due largely to an increase in the average effective interest rate.
Deficit for 2017-18 Virtually Unchanged from 2016-17
Last week the Minister of Finance released the Annual Financial Report (AFR) for 2017-18 showing the deficit for last fiscal year at $19.0 billion, virtually unchanged from the restated deficit for 2016-17.
