Daily Management Review

Canada’s Budget Deficiency Grows Wider By The Year


05/31/2017


Keeping below the government’s projection, data shows a deficit of “C$21.85 billion” in its budget for the year of 2016-2017.



On the 26th of May 2017, Canada came out with a “preliminary budgetary deficit of C$21.85 billion” for the previous fiscal year, whereby the figure equals to “$16.3 billion”. In fact, it remained mainly “in line” with the government’s projection, reported the Finance Department.
 
In fact, Reuters also added that:
“The deficit for the fiscal year that ended in March was significantly wider than the C$1.96 billion deficit the government ran in the previous fiscal year (2015-2016) as program expenses jumped, partly due to a revamped children's benefit”.
 
However, the deficit remained under the projected figure of “C$23.0 billion gap” as projected by the government reflecting upon its “most recent budget”. End of the year “adjustments” are to be made in the “final results” as and when “data” will be made available. While, the department informed, as mentioned by Reuters:
‘Taking those adjustments into account, the figures are "broadly in line" with the government's forecast”.
 
The Liberal party that rules today had a successful election campaign back in the year of 2015, wherein the party’s pledge was to “run deficits in order to boost spending and stimulate the economy”. However, for “the month of March, the government ran a deficit of C$10.39 billion, wider than the C$9.44 billion it posted the year before as program expenses exceeded revenue”.
 
 
References:
http://www.reuters.com







Science & Technology

Wreck Of Russian Ship Rumoured To Have 5,500 Boxes Of Gold Found Near South Korean Island

Gene Editing of Human Embryo Could Find ‘Moral’ Grounds: UK’s Ethics Council

Baidu comes up with a self-driving bus

Developing countries are stepping up their own space programs

McAfee: Number of cybercrime attacks skyrocketed

RemoveDebris Mission To Clear Debris Of In Orbit Over Earth

British experts: Online gambling is dangerous

Vodafone Chooses ‘Highly Trafficked Urban’ Space As Its 5G Testing Grounds

Space To Become A Travel Destination By 2022

Dream Of Immortality Can Be Realised By 2045

World Politics

World & Politics

Ireland pledges to stop investing in fossil fuels

Germany asks to return € 4 thousand subsidies for the purchase of Tesla

Was Trump's visit to the UK the last straw?

Prime Minister May Could Alter Brexit Strategies, Said Ress-Mogg

Le Maire: The US refused to release France from anti-Iran sanctions

One Belt, One Road is facing difficulties around the world

Qatar to raise $ 4 billion to buy Eurofighter Typhoon jets

The UK sets to turn all cars zero-emission by 2030