Canada 2013/14 budget deficit to be much less than forecast - PM

Thu Oct 2, 2014 11:50am EDT
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BRAMPTON, Ontario Oct 2 (Reuters) - Canada's budget deficit for the 2013/14 fiscal year is likely to be C$5.2 billion ($4.6 billion) rather than the C$16.6 billion forecast in February, Prime Minister Stephen Harper said on Thursday.

Harper told a business audience that the improvement in the figures was due in part to one-off factors, but did not give details. He said Canada would run a small deficit in the 2014/15 fiscal year before returning to surplus in 2015/16. (Reporting by Andrea Hopkins, writing by David Ljunggren; Editing by Chizu Nomiyama)