(OTTAWA) The federal government posted a surplus of $3.9 billion for the first five months of its 2022-2023 fiscal year.
Posted at 11:35 a.m.
In its monthly financial review, the Ministry of Finance indicated that this surplus recorded between the months of April to August compared to a deficit of 57.2 billion for the same period last year.
Government revenue for the period totaled $177.2 billion, up from nearly $149 billion a year ago, on the back of widespread improvement.
Program expenses excluding net actuarial losses amounted to $154.5 billion, compared to $190 billion for the same period last year.
Public debt charges totaled nearly $14.8 billion for the period, up from nearly $9.7 billion.
Net actuarial losses totaled nearly $4.1 billion, down from $6.4 billion recorded a year earlier.