U.S. Markets closed
  • S&P 500

    3,693.23
    -64.76 (-1.72%)
     
  • Dow 30

    29,590.41
    -486.27 (-1.62%)
     
  • Nasdaq

    10,867.93
    -198.88 (-1.80%)
     
  • Russell 2000

    1,679.59
    -42.72 (-2.48%)
     
  • Crude Oil

    79.43
    -4.06 (-4.86%)
     
  • Gold

    1,651.70
    -29.40 (-1.75%)
     
  • Silver

    18.83
    -0.78 (-3.99%)
     
  • EUR/USD

    0.9693
    -0.0145 (-1.4733%)
     
  • 10-Yr Bond

    3.6970
    -0.0110 (-0.30%)
     
  • Vix

    29.92
    +2.57 (+9.40%)
     
  • GBP/USD

    1.0857
    -0.0398 (-3.5360%)
     
  • USD/JPY

    143.3300
    +0.9950 (+0.6991%)
     
  • BTC-USD

    18,994.36
    -117.37 (-0.61%)
     
  • CMC Crypto 200

    434.61
    -9.92 (-2.23%)
     
  • FTSE 100

    7,018.60
    -140.92 (-1.97%)
     
  • Nikkei 225

    27,153.83
    -159.30 (-0.58%)
     

Canada records C$6.33 billion budget surplus over first four months of 2022/23

·1 min read
FILE PHOTO: Canadian flag flies in front of the Peace Tower on Parliament Hill in Ottawa

OTTAWA - Canada recorded a C$6.33 billion ($4.67 billion) budget surplus for the first four months of the 2022/23 fiscal year, helped by higher tax revenues and the ending of coronavirus support measures, the finance ministry said on Friday.

By comparison, Canada posted a C$47.33 billion deficit in the period from April to July 2021.

Year-to-date revenues were up 20.7% on a broad-based improvement in income streams. Program expenses were 20.1% lower, largely reflecting lower transfers to individuals and businesses as COVID support wound down, the finance ministry said.

"As expected, the government’s 2022-23 financial results continue to improve compared to the peak of the COVID-19 crisis and the unprecedented level of temporary COVID-19 response measures at the time," the ministry said in a statement.

On a monthly basis, Canada posted a deficit of C$3.87 billion in July, compared to the C$10.86 billion deficit recorded a year ago.

($1 = 1.3558 Canadian dollars)

(Reporting by Ismail Shakil, editing by Steve Scherer; ismail.shakil@tr.com)