Home Economy News Canada records C$6.33 billion budget surplus over first four months of 2022/23

Canada records C$6.33 billion budget surplus over first four months of 2022/23


Canada records C$6.33 billion budget surplus over first four months of 2022/23 By Reuters

Breaking News


Economy 1 hour ago (Sep 23, 2022 11:12AM ET)

(C) Reuters. FILE PHOTO: The Canadian flag flies in front of the Peace Tower on Parliament Hill in Ottawa, Ontario, Canada, March 22, 2017. REUTERS/Chris Wattie

OTTAWA – Canada recorded a C$6.33 billion ($4.67 billion) budget surplus for the first four months of the 2022/23 fiscal year, helped by higher tax revenues and the ending of coronavirus support measures, the finance ministry said on Friday.

By comparison, Canada posted a C$47.33 billion deficit in the period from April to July 2021.

Year-to-date revenues were up 20.7% on a broad-based improvement in income streams. Program expenses were 20.1% lower, largely reflecting lower transfers to individuals and businesses as COVID support wound down, the finance ministry said.

“As expected, the government’s 2022-23 financial results continue to improve compared to the peak of the COVID-19 crisis and the unprecedented level of temporary COVID-19 response measures at the time,” the ministry said in a statement.

On a monthly basis, Canada posted a deficit of C$3.87 billion in July, compared to the C$10.86 billion deficit recorded a year ago.

($1 = 1.3558 Canadian dollars)

Canada records C$6.33 billion budget surplus over first four months of 2022/23

BoE needs to hike rates next week to calm markets – Deutsche Bank analystBy Reuters – Sep 23, 2022

LONDON (Reuters) – Britain’s central bank needs to make a big inter-meeting interest rate hike as early as next week to calm markets and restore credibility, a Deutsche Bank…

Swiss National Bank ready for further steps to combat inflation – JordanBy Reuters – Sep 23, 2022

LUCERNE, Switzerland (Reuters) – The Swiss National Bank is ready to take further steps to fight inflation despite price rises in Switzerland being relatively modest compared to…

Stocks tumble, dollar soars and bonds plunge as higher rates viewBy Reuters – Sep 23, 2022

By Herbert Lash, Amanda Cooper and Tommy Wilkes NEW YORK/LONDON (Reuters) -Global stocks hit two-year lows on Friday, the dollar scaled a 22-year high and bonds sold off again as…

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

(C) 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Related News