October 22, 2013 / 4:28 PM / 4 years ago

Canada's debt-to-GDP ratio falls slightly

OTTAWA, Oct 22 (Reuters) - Canada’s final budget figures for the fiscal year that ended in March showed on Tuesday a deficit of C$18.9 billion ($18.3 billon), slightly higher than the 12-month tally released in May but much lower than what had been forecast in the March budget.

On May 31, the Finance Department’s Fiscal Monitor had reported a preliminary shortfall of C$18.3 billion for the 2012-13 year.

The government’s annual budget released on March 21 had projected that the deficit for the 2012-13 fiscal year would be C$25.9 billion.

The government also reported the ratio of federal debt to gross domestic product fell to 33.1 percent at end-March 2013 from 33.2 percent a year earlier.

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