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The Canadian federal budget for the fiscal years of 2023–24 was presented to the House of Commons by Finance Minister Chrystia Freeland on 28 March 2023. [2] The budget was meant to reflect Prime Minister Justin Trudeau's stated policy objective to "make life more affordable for Canadians" [3] while also reducing government expenditures.
Canada's fiscal deficit for the year ended March came in at C$61.9 billion ($43.45 billion) - about 50% more than what was projected and missing one of the three key fiscal objectives Finance ...
The statement showed a deficit of $61.9 billion for 2023–24, exceeding Freeland's target of $40.1 billion or less, and left Trump's tariff threats largely unaddressed. [ 18 ] Loss of support for Justin Trudeau
Year-to-date revenues grew by 10.7%, largely reflecting higher personal income tax revenue and income from other taxes and duties. ... Canada posted a deficit of C$1.49 billion in October ...
Between mid-2022 and early 2024, Canada's unemployment rate increased by 1.6%, a rise historically associated with recessionary periods in Canada since the 1970s. This increase, though smaller relative to its prior major recessions, was considered significant given its emergence from post-pandemic record lows.
Canada's budget deficit for the first six months of the 2024-25 fiscal year jumped by more than a half to C$13.01 billion ($9.28 billion) as program expenses and debt payment costs rose faster ...
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
Canada set out on Thursday C$11.3 billion ($8.2 billion) in new spending this year and next, and slashed its budget deficit forecast by nearly a third for the current fiscal year, in an economic ...