Ottawa, October 28, 2011
2011-107

Archived - Release of The Fiscal Monitor

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

Highlights

August 2011: budgetary deficit of $3.6 billion

There was a budgetary deficit of $3.6 billion in August 2011, compared to a deficit of $5.8 billion in August 2010.

Revenues increased by $0.7 billion, or 4.1 per cent, reflecting increases in most revenue streams. Program expenses were down $1.3 billion, or 6.2 per cent, largely reflecting a decrease in transfer payments. Public debt charges decreased by $0.2 billion.

April to August 2011: budgetary deficit of $10.7 billion

For the first five months of the 2011–12 fiscal year, the budgetary deficit stood at $10.7 billion, compared to a deficit of $13.5 billion reported in the same period of 2010–11.

Revenues were up $3.1 billion, or 3.4 per cent, primarily reflecting higher income tax revenues, which were partially offset by lower Goods and Services Tax revenues. Program expenses were down $0.3 billion, or 0.3 per cent. Public debt charges were up $0.6 billion.

For further information, media may contact:

Mary Ann Dewey-Plante
Press Secretary
Office of the Minister of Finance
613-996-7861

Jack Aubry
Media Relations
Department of Finance
613-996-8080

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