Ottawa, April 26, 2013
Archived - Release of The Fiscal Monitor
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The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for February 2013.
February 2013: budgetary surplus of $1.6 billion
There was a budgetary surplus of $1.6 billion in February 2013, compared to a surplus of $1.5 billion in February 2012.
Revenues increased by $0.5 billion, or 2.4 per cent, reflecting an increase in income tax revenues. Program expenses increased by $0.6 billion, or 3.1 per cent, reflecting increases in major transfers to persons and other levels of government and direct program expenses. Public debt charges decreased by $0.1 billion, or 5.5 per cent.
April 2012 to February 2013: budgetary deficit of $11.8 billion
For the first 11 months of the 2012–13 fiscal year, the budgetary deficit stood at $11.8 billion, compared to a deficit of $12.6 billion reported in the same period of 2011–12.
Revenues were up $5.1 billion, or 2.3 per cent, reflecting higher income tax revenues, excise taxes and duties, and Employment Insurance premium revenues. Program expenses were up $6.1 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 $1.7 billion, or 6.1 per cent.
For further information, media may contact:
Office of the Minister of Finance
Department of Finance