Economy 52,902 Posted December 23, 2022 Share Posted December 23, 2022 https://www.bnnbloomberg.ca/federal-government-posts-0-2-billion-deficit-for-april-to-october-period-1.1863019 Canada's budget accounting shows Canada has so far run a deficit of a very tiny $0.2 Billion or $200M for the first 7 months of the fiscal year so far compared to a deficit of $73 Billion last year as revenue increased and covid program related expenses dropped $200M is such a small insignificant amount for an economy of over $2 Trillion (0.01% of GDP) that it is essentially a balanced budget If the budget for the full year remains near balance, it will be a surprise balanced budget as the government had originally forecast a deficit this year near $30 Billion Link to post Share on other sites More sharing options...
Economy 52,902 Posted December 23, 2022 Author Share Posted December 23, 2022 Oh and this is despite a small increase of $5.2 Billion in debt interest charges due to higher interest rates Link to post Share on other sites More sharing options...
Concertaholic 6,592 Posted December 23, 2022 Share Posted December 23, 2022 I haven’t been keeping up with Canada’s drag race and when I saw the title I swore you just revealed a spoiler that a queen named Deficit was eliminated from the show Link to post Share on other sites More sharing options...
Economy 52,902 Posted December 23, 2022 Author Share Posted December 23, 2022 2 minutes ago, Concertaholic said: I haven’t been keeping up with Canada’s drag race and when I saw the title I swore you just revealed a spoiler that a queen named Deficit was eliminated from the show The title has "fiscal year" on it tho how did u get that confused? Link to post Share on other sites More sharing options...
Economy 52,902 Posted December 23, 2022 Author Share Posted December 23, 2022 @StarstruckIllusion what's ur take on this? I like debt getting in order. Gives us more financial room for emergencies and downturns which has come handy before. I do think tho that as the debt to GDP falls closer to 30% targets we need to look at resources on hand to tackle perhaps the 3 biggest issues in Canada rn, a strained healthcare system, housing affordability crisis, and infrastructure investment deficits that are struggling to keep up Link to post Share on other sites More sharing options...
Concertaholic 6,592 Posted December 23, 2022 Share Posted December 23, 2022 5 hours ago, Economy said: The title has "fiscal year" on it tho how did u get that confused? When looking on mobile the preview cut off after “for” Link to post Share on other sites More sharing options...
Economy 52,902 Posted December 23, 2022 Author Share Posted December 23, 2022 1 minute ago, Concertaholic said: When looking on mobile the preview cut off after “for” Haha true true it does cut off title. I mistake titles for that same reason sometimes I thought u meant like after pressing it and reading entire title Link to post Share on other sites More sharing options...
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