Federal deficit close to $9 billion for first six months of the year

OTTAWA – The federal government added $2.7 billion to this year’s deficit during September.

Ottawa says its accumulated deficit totalled $8.9 billion after the first six months of the current fiscal year, which ends next March.

That’s moderately better than the $11.8 billion shortfall Ottawa had at the mid-point of last year’s fiscal year

For the first six months of the financial year that began April 1, government revenues are up $3.3 billion, while program expenses were $1.5 billion higher.

Meanwhile, the government paid $1.1 billion less to service its debt than it did last year at the same point.

September’s revenue fell 0.1 per cent from a year earlier to $18.5 billion, while the month’s expenses were up 0.6 per cent to $18.9 billion.