Ottawa, February 24, 2012

Archived - Release of The Fiscal Monitor

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


December 2011: budgetary deficit of $0.4 billion

There was a budgetary deficit of $0.4 billion in December 2011, compared to a deficit of $1.4 billion in December 2010. 

Revenues increased by $1.4 billion, or 6.8 per cent, reflecting increases in most revenue streams. Program expenses were up $0.5 billion, or 2.7 per cent, reflecting an increase in transfer payments. Public debt charges decreased by $0.1 billion.

April to December 2011: budgetary deficit of $17.7 billion

For the first nine months of the 2011–12 fiscal year, the budgetary deficit stood at $17.7 billion, compared to a deficit of $27.4 billion in the same period of 2010–11. 

Revenues were up $7.1 billion, or 4.2 per cent, primarily reflecting higher income tax revenues, which were partially offset by lower Goods and Services Tax (GST) revenues and other revenues. Program expenses were down $3.0 billion, or 1.8 per cent. Public debt charges were up $0.4 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

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