Ottawa, November 25, 2011
2011-121

Archived - Release of The Fiscal Monitor

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

Highlights

September 2011: budgetary deficit of $2.5 billion

There was a budgetary deficit of $2.5 billion in September 2011, compared to a deficit of $3.9 billion in September 2010. 

Revenues increased by $1.2 billion, or 6.8 per cent, reflecting higher income tax revenues, which were partially offset by lower excise taxes and duties, Employment Insurance premium revenues and other revenues. Program expenses were down $0.1 billion, or 0.6 per cent, reflecting a decrease in transfer payments. Public debt charges decreased by $0.1 billion.

April to September 2011: budgetary deficit of $13.2 billion

For the first six months of the 2011–12 fiscal year, the budgetary deficit stood at $13.2 billion, compared to a deficit of $17.4 billion reported in the same period of 2010–11. 

Revenues were up $4.3 billion, or 3.9 per cent, primarily reflecting higher income tax revenues, which were partially offset by lower Goods and Services Tax revenues. Program expenses were down $0.4 billion, or 0.4 per cent. Public debt charges were up $0.5 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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