Archived - Release of The Fiscal Monitor for January 2015
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The Department of Finance reports a budgetary surplus of $2.2 billion in January 2015; the Government remains on track to balance the budget in 2015
March 27, 2015 – Ottawa, Ontario – Department of Finance
Finance Minister Joe Oliver today released The Fiscal Monitor for January 2015.
There was a budgetary surplus of $2.2 billion in January 2015, virtually unchanged from the budgetary balance reported for January 2014.
Revenues increased by $0.4 billion, or 1.5 per cent, largely reflecting an increase in personal income tax revenues, offset in part by a decrease in non-resident income tax revenues. Program expenses increased by $0.7 billion, or 3.4 per cent, reflecting increases in major transfers to persons and direct program expenses. Public debt charges decreased by $0.3 billion, or 13.9 per cent, largely reflecting a lower average effective interest rate on bonds.
- For the April 2014 to January 2015 period of the 2014–15 fiscal year, the Government posted a budgetary surplus of $1.3 billion, compared with a deficit of $10.0 billion reported in the same period of 2013–14.
- During the same period, revenues were up $7.7 billion, or 3.6 per cent, reflecting increases in most revenue streams.
- Program expenses were down $2.8 billion, or 1.4 per cent, reflecting a decrease in direct program expenses, offset in part by increases in major transfers to persons and other levels of government.
- Public debt charges were down $0.8 billion, or 3.2 per cent, largely reflecting a lower average effective interest rate on bonds.
- The Fiscal Monitor
- Future Release Dates of The Fiscal Monitor
- Update of Economic and Fiscal Projections
Director of Communications
Office of the Minister of Finance
Department of Finance