The federal government posted a deficit of $19.1 billion for the first eight months of its 2023-24 fiscal year. The Peace Tower of Parliament Hill is shown in Ottawa, Wednesday, Dec. 13, 2023. (Photo: Canadian Press)

By Canadian Press

Federal government posts $19.1B deficit for April to November period

Jan 26, 2024 | 11:20 AM

OTTAWA, ON – The federal government posted a deficit of $19.1 billion for the first eight months of its 2023-24 fiscal year.

The result for the April-to-November period compared with a deficit of nearly $3.6 billion reported for the same stretch of its 2022-23 fiscal year.

Government revenues for the eight-month period totalled $281.8 billion, up 2.6 per cent from $274.7 billion in the same period a year earlier.

Program expenses, excluding net actuarial losses, for the April-to-November period totalled nearly $264.9 billion, up 6.3 per cent from nearly $249.2 billion.

Higher interest rates pushed public debt charges up 37.7 per cent to 31.0 billion from $22.5 billion a year earlier.

Nighttime construction on Hwy 3 in Lethbridge starts April 17

Apr 17, 2025

SASHA launches #BuyABed fundraiser to support vulnerable Lethbridge residents

Apr 04, 2025

$20K grants available: TELUS STORYHIVE Pan-Asian Edition opens applications April 1

Mar 18, 2025

Net actuarial losses totalled $5.0 billion compared with nearly $6.6 billion in the same period last year.

This report by The Canadian Press was first published Jan. 26, 2024.

READ MORE: Lethbridge News Now

—

If you have a news tip, question or concern, please email Lethbridge.newsroom@Pattisonmedia.com.