Archived - Release of The Fiscal Monitor

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The Department of Finance reports a $2.2-billion surplus in January; the Government remains on track to balance the budget in 2015

March 28, 2014 – Ottawa, Ontario – Department of Finance

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

There was a budgetary surplus of $2.2 billion in January 2014, compared with a surplus of $0.5 billion in January 2013.

Revenues increased by $1.2 billion, or 5.1 per cent, reflecting increases in most revenue streams. Program expenses decreased by $0.6 billion, or 2.6 per cent, while public debt charges increased by $0.1 billion, or 3.6 per cent.

Quick Facts

  • For the April 1, 2013 to January 31, 2014 period of the 2013–14 fiscal year, the budgetary deficit stood at $10.5 billion, compared with a deficit of $13.9 billion reported in the same period of 2012–13.
  • Revenues were up $8.7 billion, or 4.2 per cent, reflecting increases in personal income tax, non-resident income tax, Goods and Services Tax, Employment Insurance premium and other revenues.
  • Program expenses were up $5.6 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 $0.2 billion, or 1.0 per cent.

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Melissa Lantsman
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Office of the Minister of Finance

Jack Aubry
Media Relations
Department of Finance

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