Ottawa, March 21, 2013
2013-041

Archived - Release of The Fiscal Monitor

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The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for January 2013.

Highlights

January 2013: budgetary deficit of $0.4 billion

There was a budgetary deficit of $0.4 billion in January 2013, compared to a surplus of $1.9 billion in January 2012.

Revenues decreased by $0.8 billion, or 3.6 per cent, reflecting decreases in income tax revenues and excise taxes and duties. Program expenses increased by $1.7 billion, or 8.9 per cent, largely reflecting an increase in major transfers to other levels of government. Public debt charges decreased by $0.2 billion, or 9.8 per cent.

April 2012 to January 2013: budgetary deficit of $13.4 billion

For the first 10 months of the 2012–13 fiscal year, the budgetary deficit stood at $13.4 billion, compared to a deficit of $14.1 billion reported in the same period of 2011–12.

Revenues were up $4.6 billion, or 2.3 per cent, reflecting higher income tax revenues, excise taxes and duties, and Employment Insurance premium revenues. Program expenses were up $5.5 billion, or 2.9 per cent, reflecting increases in major transfers to persons and other levels of government and direct program expenses. Public debt charges were down $1.6 billion, or 6.2 per cent.

For further information, media may contact:

Kathleen Perchaluk
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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