Ottawa, September 30, 2011

Archived - Release of The Fiscal Monitor

Archived information

Archived information is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please contact us to request a format other than those available.

Related document:

The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for July 2011.


July 2011: budgetary deficit of $1.6 billion

There was a budgetary deficit of $1.6 billion in July 2011, compared to a deficit of $0.5 billion in July 2010.

Revenues decreased by $0.2 billion, or 1.1 per cent, reflecting decreases in most revenue streams, partially offset by an increase in personal income tax revenues. Program expenses were up $0.8 billion, or 4.3 per cent, reflecting increases in transfer payments and other program expenses. Public debt charges increased by $0.1 billion.

April to July 2011: budgetary deficit of $7.1 billion

For the first four months of the 2011–12 fiscal year, the budgetary deficit stood at $7.1 billion, compared to a deficit of $7.7 billion reported in the same period of 2010–11.

Revenues were up $2.4 billion, or 3.2 per cent, primarily reflecting higher income tax revenues, which were partially offset by lower Goods and Services Tax revenues. Program expenses were up $1.0 billion, or 1.4 per cent. Public debt charges were up $0.8 billion.

For further information, media may contact:

Mary Ann Dewey-Plante
Press Secretary
Office of the Minister of Finance

Jack Aubry
Media Relations
Department of Finance

To receive e-mail notification of all news releases, please register.