Canada budget still in surplus in February

Fri Apr 24, 2009 11:06am EDT
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OTTAWA (Reuters) - Canada posted a budget surplus in February and still is in the black for the first 11 months of the fiscal year, the finance department said on Friday.

The surplus amounted to C$823 million ($680 million) in February, down from C$3.02 billion a year earlier. For April through September, the surplus was C$1.32 billion, down from C$12.63 billion in the corresponding period a year earlier.

Finance Minister Jim Flaherty has forecast the 2008-09 fiscal year, which ended on March 31, would end up with a deficit of C$1.1 billion. He has booked a total of C$63.5 billion in deficits for the coming two fiscal years.

($1=$1.21 Canadian)

(Reporting by Randall Palmer; editing by Peter Galloway)