Archived - Release of The Fiscal Monitor

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The Department of Finance reports a $6.7-billion deficit in March; the Government remains on track to balance the budget in 2015

May 30, 2014 – Ottawa, Ontario – Department of Finance

Finance Minister Joe Oliver today released The Fiscal Monitor for March 2014.

There was a budgetary deficit of $6.7 billion in March 2014, compared to a deficit of $8.0 billion in March 2013.

Revenues increased by $2.4 billion, or 10.7 per cent, reflecting increases in most revenue streams. Program expenses increased by $1.1 billion, or 3.9 per cent, while public debt charges decreased by $1 million.

Quick Facts

  • For the April 2013 to March 2014 period, the budgetary deficit stood at $12.1 billion, compared to a deficit of $18.7 billion for the same period of 2012–13.
  • Revenues were up $13.2 billion, or 5.2 per cent, reflecting increases in most revenue streams. 
  • Program expenses were up $6.8 billion, or 2.8 per cent, reflecting increases in major transfers to persons and other levels of government and direct program expenses. Public debt charges were down $0.2 billion, or 0.6 per cent.

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Media Contacts

Melissa Lantsman
Director of Communications
Office of the Minister of Finance
613-996-7861

Jack Aubry
Media Relations
Department of Finance
613-996-8080

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