Ottawa posts $26.8 billion deficit for April-to-January period

OTTAWA — The federal government posted a budgetary deficit of $26.8 billion for the April-to-January period of its 2024-25 fiscal year.

The result compared with a deficit of $25.7 billion for the same period a year earlier.

According to the Finance Department’s monthly fiscal monitor, revenue for the 10-month period totalled $398.6 billion, up from $359.3 billion a year earlier, boosted by gains in all categories.

Program expenses excluding net actuarial losses amounted to $376.5 billion, up from $339.5 billion, boosted by increases across all major categories.

Public debt charges totalled $45.5 billion, up from $39.2 billion.

Net actuarial losses were nearly $3.4 billion, down from $6.3 billion a year ago.

This report by The Canadian Press was first published March 28, 2025.

The Canadian Press

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Construction workers build scaffolding on Parliament Hill in Ottawa on Thursday, March 20, 2025. THE CANADIAN PRESS/Sean Kilpatrick

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