Federal government ran $614-million deficit last November

The Canadian Press 0

OTTAWA – Ottawa ran a deficit of $614 million in November, smaller than a $1.7-billion shortfall in the same month a year earlier.

The monthly fiscal monitor says the federal government’s revenue was up by $1.7 billion compared with a year ago.

The Finance Department says the figure reflects increases in most revenue streams.

Meanwhile, program spending rose by $600 million and public debt charges fell by $100 million.

So far for the fiscal year, which began in April, the deficit stands at $13.8 billion compared with $13.6 billion in the same period a year earlier.

It says the shortfall would have stood at $11.7 billion, if the costs of the Alberta flood and the gain from sale of General Motors stock were excluded.

The government has projected a deficit of $17.9 billion for the full fiscal year.

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