By Canadian Press

Federal government posts $12.7B deficit for June, spending down and revenue up

Aug 27, 2021 | 11:47 AM

OTTAWA — The federal government posted a deficit of $12.7 billion for June compared with a deficit of $33.6 billion in June 2020.

The drop in the deficit came as spending dropped compared with a year ago when Ottawa spent billions on emergency aid due to the pandemic and revenue improved.

Program spending, excluding net actuarial losses, totalled $39.1 billion in June, down from $51.3 billion a year earlier.

Revenue increased to $29.6 billion for the month, up from $19.9 billion in June last year.

Public debt charges increased to $1.9 billion from nearly $1.3 billion.

Raiders win 5-3

Defensive scoring leads Raiders over Wheat Kings

4h ago

GST Holiday

Federal government's two-month GST holiday begins

20h ago

Imminent need

Council set to discuss possible location for homeless shelter on 15th Street

Dec 14, 2024

The federal deficit for the April to June period of the 2021-22 fiscal year totalled $36.5 billion compared with a deficit of $120.4 billion for the same period a year earlier.

This report by The Canadian Press was first published Aug. 27, 2021.

The Canadian Press