Canada's budget deficit drops to 370M

Canada recorded a significant decline in its fiscal deficit during the first quarter of fiscal year 2026/2027, reaching 370 million Canadian dollars, compared to a deficit of 6.28 billion dollars in the same period of the previous year. Despite government spending increasing by 4.3% and public debt costs rising by 6.1%, revenues grew by 9.8%, supported by income taxes and sales taxes, which helped improve the financial situation and reduce the deficit. The country also posted a monthly surplus of 989 million dollars in June, reflecting an improvement in financial performance compared to the previous year.

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