The Finance Department’s monthly fiscal monitor showed the federal government ran a $3.4-billion deficit in November alone, compared with $1.4-billion a year earlier
The federal deficit stood at $3.6-billion as of November with just four months left in the 2022-23 fiscal year, suggesting federal finances are outperforming official projections.
The report said the federal government ran a $3.4-billion deficit in the month of November alone, compared with a $1.4-billion deficit in November, 2021. Finance Minister Chrystia Freeland’s Nov. 3 fall economic statement projected a $36.4-billion deficit for the current 2022-23 fiscal year. The document also provided a “downside scenario” in which the deficit could be $49.1-billion if various economic risks materialized.
The fall economic statement was based on an average of private sector forecasts. Specifically, it used a forecast of 3.2 per cent GDP growth in 2022 and 0.7 per cent in 2023.its GDP forecast upward for this year and next. The bank now expects 3.6 per cent growth in 2022 and 1 per cent growth in 2023.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Manitoba finance minister steps down to seek federal Conservative nominationCameron Friesen will have competition for the federal nomination in Portage-Lisgar, as others have already expressed interest
Read more »
Fresnillo increases silver production in 2022 as gold production down 15.3%A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »
YEG sees doubling of passengers between 2021 and 2022 - Edmonton | Globalnews.caPassenger numbers at YEG doubled between 2021 and 2022 as travel restrictions and mandates gradually loosened and more international flights were allowed.
Read more »
Driving By Numbers: Canada's best-selling pickup trucks in 2022Canada\u0027s pickup truck market didn\u0027t do what you might have expected it to during a year of rising fuel costs and rising MSRPs
Read more »
Freeport-McMoRan increases copper and gold production in 2022, reports net income of $3,468 millionA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »
Driving By Numbers: Canada's best-selling pickup trucks in 2022Canada\u0027s pickup truck market didn\u0027t do what you might have expected it to during a year of rising fuel costs and rising MSRPs
Read more »