Canada’s budget deficit reached 7.3 billion dollars
The Ministry of Finance of Canada announced that the country had a budget deficit of 7.29 billion Canadian dollars, equivalent to 5.41 billion US dollars, in the four months of the fiscal year 2024-2025.
reported by %20%0A
The ministry announced in a statement that to compare the increase in the budget deficit this year, the budget deficit in the same period last year was 1.24 billion Canadian dollars, which is almost 6 times less than This year.
The cost of government programs has increased by 13.5% with an increase in all major expenditure categories. Finance Canada said public debt costs rose 28.8 percent, largely due to higher interest rates.
The Canadian government’s annual revenues have also grown by 10.2% year-to-date, showing increases in all major revenue categories. In July, Canada recorded a deficit of C$4.41 billion, which was a slight difference compared to a deficit of C$4.86 billion in July 2023.
Follow Us
