Canada posts budget surplus at start of fiscal year

Wed Jul 22, 2015 9:29am EDT
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OTTAWA, July 22 (Reuters) - The Canadian government had a budget surplus in the first two months of the fiscal year on increased revenues and gains from the sale of the government's holdings in General Motors, the finance department said on Wednesday.

The surplus in April was C$2.54 billion ($1.95 billion), compared to a deficit of C$1.41 billion in April 2014, while May's surplus was C$1.40 billion, up from C$267 million the year before.

For the 2015-16 fiscal year that started in April, the government had a surplus of C$3.95 billion. ($1 = 1.3036 Canadian dollars) (Reporting by Leah Schnurr; Editing by Chizu Nomiyama)