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.

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Roy Singh

Roy Singh

Broker of Record
CENTURY 21 Home Realty Inc., Brokerage*
Contact Me

Tags