Ottawa posts $21.7 billion deficit for April-to-December period
Feb 28, 2025 | 9:05 AM
OTTAWA — The federal government posted a budgetary deficit of $21.7 billion for the April-to-December period of its 2024-25 fiscal year.
The result compared with a deficit of $23.6 billion for the same period a year earlier.
According to the Finance Department’s monthly fiscal monitor, revenue for the nine-month period totalled $355.6 billion, up from nearly $318.1 billion a year earlier, boosted by gains in all categories.
Program expenses excluding net actuarial losses amounted to $333.2 billion, up from nearly $301 billion, boosted by increases across all major categories including direct program expenses and major transfers to persons.
