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CanadaTrudeau government ran $3.1-billion surplus in first 11 months of 2018-19

19:26  26 april  2019
19:26  26 april  2019 Source:   msn.com

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Prime Minister Justin Trudeau and Minister of Finance Bill Morneau arrive in the Foyer of the House of Commons to table the Budget, on Parliament OTTAWA - A preliminary estimate of the federal books says the government posted a surplus of $ 3 . 1 billion through the first 11 months of the fiscal year.

OTTAWA — A preliminary estimate of the federal books says the government posted a surplus of $ 3 . 1 billion through the first 11 months of the fiscal year. The number in the Finance Department’s latest fiscal monitor suggests that with one month to go in the 2018 - 19 fiscal year, the government ’s

Trudeau government ran $3.1-billion surplus in first 11 months of 2018-19© Provided by Canadian Press Enterprises Inc

OTTAWA — A preliminary estimate of the federal books says the government posted a surplus of $3.1 billion through the first 11 months of the fiscal year.

The number in the Finance Department's latest fiscal monitor suggests that with one month to go in the 2018-19 fiscal year, the government's balance sheet is on track to be far better than the Liberals' $14.9-billion deficit projection.

The April-to-February surplus is an improvement compared to the same period in 2017-18, when the government ran a shortfall $6 billion.

The report says overall revenues were up $23.5 billion, or 8.5 per cent, compared to same 11-month stretch the previous year, due in large part to higher revenues from taxes and incoming employment insurance premiums.

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The Trudeau government says it remains on track to post a budgetary shortfall of about -billion in 2018 - 19 even though a new estimate says the federal books ran a $ 3 . 1 - billion surplus through the first 11 months of the fiscal year. The number was released on Friday in the Finance Department’s

For the month of December alone, the government posted a surplus of .5 billion thanks to a revenue increase of .6 billion. The Liberals’ fall fiscal update, released in November, predicted the government was on track to run annual shortfalls of . 1 billion in 2018 - 19 , .6 billion in

Program expenses rose by $12.7 billion, or 4.8 per cent, mostly because of increases in major transfers to individuals and other levels of government as well as higher direct program spending.

In February alone, the report says the government had a surplus of $4.3 billion.

Last month, the Liberals' budget predicted the government would run annual deficits of $19.8 billion in 2019-20, $19.7 billion in 2020-21 and $14.8 billion in 2021-22.

The Canadian Press

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