Ottawa, April 27, 2012
2012-051

Archived - Release of The Fiscal Monitor

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The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for February 2012.

Highlights

February 2012: budgetary surplus of $1.5 billion

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.

April 2011 to February 2012: budgetary deficit of $14.5 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
2010–11.

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
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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