Ottawa’s August budget shortfall of $3.2 billion up slightly from a year earlier
Posted October 26, 2012 1:34 pm.
This article is more than 5 years old.
Ottawa says its budget shortfall in August was $3.2 billion.
That was a slightly bigger shortfall than the $3.1 billion deficit reported in August of last year.
But the federal government remains ahead of last year’s deficit reduction efforts.
For the first five months of the current financial year, the shortfall was $6.2 billion.
A year earlier, the deficit stood at $9 billion.
Ottawa says is revenues this year have increased by $3.4 billion, while program expenses are only up $1.4 billion.
As well, interest charges to service the national debt are down about $900 million, or 6.7 per cent.
