45
Canada posts $5.36B deficit for first five months of 2026-27 fiscal year (www.ctvnews.ca)
submitted 6 days ago by to c/canada@lemmy.ca
24 comments fedilink hide all child comments
 

OTTAWA — The federal government posted a deficit of $5.36 billion for the first five months of its 2026-27 fiscal year.

In its monthly fiscal monitor report, the Finance Department says the result compared with a deficit of $11.07 billion in the same April-to-August period a year earlier.

you are viewing a single comment's thread
view the rest of the comments
[–] 8 points 5 days ago (2 children)

I don't understand some comments. The budget deficit almost halved compared to the same period last year, with revenues totalling $215.5 billion (+ $14.4 billion or 7.1%), and expenses totalling $220.9 billion (+ $8.6 billion or 4.1%).

The most important single expense appears to be the public-debt charges which climbed 16.1%, but I don't see what this has to do with AI or the like.

  • permalink
  • fedilink
  • source
  • hideshow 2 child comments
    •
  • [–] [S] 1 point 5 days ago (1 child)

    So, couple things.

    1. The deficit will almost certainly be higher than that when the dust settles. A lot of invoices come due in month 11 or 12.

    2. Ordinarily I'd say it's people using this to try to shoehorn their hatred of AI into the conversation, but part of the reason for this specific deficit is Canada just this week took equity in Cohere.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •