Ottawa, January 27, 2012
Archived - Release of The Fiscal Monitor
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.
The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for November 2011.
November 2011: budgetary deficit of $1.9 billion
There was a budgetary deficit of $1.9 billion in November 2011, compared to a deficit of $4.5 billion in November 2010.
Revenues decreased by $48 million, or 0.2 per cent, reflecting lower excise taxes and duties and other revenues, which were largely offset by higher income tax revenues. Program expenses were down $2.5 billion, or 11.9 per cent, in part reflecting the wind-down of Canada’s economic stimulus funding. Public debt charges decreased by $41 million.
April to November 2011: budgetary deficit of $17.3 billion
For the first eight months of the 2011–12 fiscal year, the budgetary deficit stood at $17.3 billion, compared to a deficit of $26.0 billion reported in the same period of 2010–11.
Revenues were up $5.7 billion, or 3.9 per cent, primarily reflecting higher income tax revenues, which were partially offset by lower Goods and Services Tax revenues and other revenues. Program expenses were down $3.5 billion, or 2.3 per cent. Public debt charges were up $0.5 billion.
For further information, media may contact:
Mary Ann Dewey-Plante
Office of the Minister of Finance
Department of Finance
To receive e-mail notification of all news releases, please register.