Federal government posts $5.1-billion deficit for April-to-July period

OTTAWA - The federal government reported a $5.1 billion deficit for the April-to-July period of its 2026-27 fiscal year. This marked a significant improvement from the $7.8 billion deficit recorded during the same period in the previous year. In its monthly fiscal monitor report, the Finance Department attributed the positive change to a rise in revenue, which totaled $175.5 billion for the quarter, compared to $163.4 billion a year prior.

This growth was primarily driven by increases in personal income tax revenue, other revenues, and GST revenue.