On a monthly basis, Canada posted a surplus of C$9.53 billion, compared to the C$5.47 billion surplus recorded in February 2022. (Reporting by Ismail Shakil in Ottawa; Editing by Steve Scherer)
OTTAWA, April 28 (Reuters) - Canada recorded a C$3.09
billion ($2.28 billion) budget surplus for the first eleven
months of the 2022/23 fiscal year helped by higher tax revenue,
the finance ministry said on Friday.
By comparison, Canada posted a C$69.82 billion deficit in
the period from April to February 2022.
Year-to-date revenues were up 10.1% on a broad-based
improvement in income streams. Program expenses were down 11.5%,
largely reflecting lower transfers to individuals and businesses
as COVID-19 support wound down, the finance ministry said in a
statement.
Tax revenues jumped 9.8%, compared to the same period in
2021-22, when COVID-related restrictions weighed on revenue, the
ministry said.
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