October 31, 2014 / 3:08 PM / 4 years ago

Canada budget gap narrows in August

OTTAWA, Oct 31 (Reuters) - Canada’s federal budget deficit declined to C$316 million ($280 million) in August from C$2.04 billion in the same month a year earlier, Department of Finance figures showed on Friday.

For the first five months of the fiscal year, April through August, the deficit fell to C$1.12 billion from C$6.58 billion in the same period last year.

Prime Minister Stephen Harper said on Thursday that after accounting for several billions of dollars a year in family tax cuts and increased family benefits, the budget would register a small deficit in the current 2014-15 fiscal year and a small surplus in 2015-16.

The budget had swung into deficit because of the 2007-09 financial crisis but the size of the deficit has been falling steadily.

$1=$1.13 Canadian Reporting by Randall Palmer; Editing by Peter Galloway

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below