Canada 11-month budget deficit narrows to C$5.4 bln

Fri Apr 25, 2014 11:00am EDT
 
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* February surplus of C$5.15 bln vs C$3.19 bln yr ago

* April-Feb deficit C$5.39 bln vs yr-ago C$10.68 bln

OTTAWA, April 25 (Reuters) - Canada ran a budget surplus of C$5.15 ($4.68 billion) in February, the government said on Friday, bringing the deficit in the first 11 months of the fiscal year to C$5.39 billion compared with a deficit of C$10.68 billion a year earlier.

The monthly federal budget surplus was bigger than the C$3.19 billion surplus reported that month in 2013.

In the budget presented in February, the Conservative government estimated a deficit of C$16.6 billion in the 2013-14 fiscal year ending March 31. That figure includes a C$3 billion contingency fund to safeguard against unexpected shocks.

The deficit in 2012-13 was C$18.9 billion.

Adjustments made after the closing of the fiscal year can significantly alter the final budget balance figures.

Ottawa has pledged to eliminate the deficit altogether by 2015, ahead of an election scheduled for October of next year.

($1 = $1.10 Canadian) (Reporting by Louise Egan; Editing by Chizu Nomiyama)