Federal government posts $15.1 billion deficit between April and October this year
BNN Bloomberg
The federal government recorded a budgetary deficit of $15.1 billion between April and October, $7 billion of which was in October.
The finance department says in its monthly fiscal monitor that the deficit between April and October compared with a deficit of $0.2 billion during the same period last year.
Government revenues increased by $3 billion, or 1.2 per cent, a reflection of higher interest revenues and other non-tax revenues.
Program expenses excluding net actuarial losses were up $11.8 billion, or 5.4 per cent, from the same period a year earlier, as spending across all major categories rose.
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