Canadian Budget Surplus

 

$379 Million in September -

Canada swung to a budget surplus in September from a deficit a year earlier, on gains in corporate and payroll tax receipts and a drop in outlays on a onetime payout in 2013 to help Alberta deal with devastating floods.

Canada's federal government recorded a budget surplus of $379 million ($334.5 Million USD) compared with at C$3.77 billion deficit a year earlier.

The improvement in Canada's public finances reinforces the Conservative government's confidence that it will easily meet its target of returning to a budget surplus in the fiscal year starting April 1st, 2015.

Public debt fell 5.4% to C$22.23 billion. Canada has taken advantage of rock-bottom rates to tap the ultra-long bond market, or debt with a maturity over 30 years.

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