Ottawa, April 27, 2012
The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for February 2012.
There was a budgetary surplus of $1.5 billion in February 2012, compared to a deficit of $0.6 billion in February 2011.
Revenues increased by $1.1 billion, or 5.2 per cent, reflecting increases in most revenue streams. Program expenses were down $0.7 billion, or 3.6 per cent, primarily reflecting a decrease in operating expenses. Public debt charges decreased by $0.3 billion.
For the first 11 months of the 2011–12 fiscal year, the budgetary deficit stood at $14.5 billion, compared to a deficit of $28.3 billion reported in the same period of
Revenues were up $9.8 billion, or 4.7 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 $4.0 billion, or 1.9 per cent. Public debt charges were up $40 million.
For further information, media may contact:
Mary Ann Dewey-Plante
Office of the Minister of Finance
Department of Finance
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