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







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