Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Ottawa posts $5.1-billion surplus in February Add to ...

The federal government posted a $5.1-billion surplus in the month of February, dramatically increasing the chances that the deficit for the 2013-14 fiscal year will be smaller than expected.

Finance Canada’s monthly Fiscal Monitor reported Friday that over the first 11 months of the 2013-14 fiscal year, the deficit stood at $5.4-billion with just one month left to report. That is in contrast to a deficit of $10.7-billion during the same 11 months one year earlier.

More Related to this Story

Monthly deficit and surplus figures can fluctuate dramatically due to the timing of government transactions. The official numbers for the 2013-14 fiscal year will not be known until the fall release of the Public Accounts.

The $5.1-billion surplus for February was an improvement over the $3.2-billion surplus posted in February of 2013.

The Conservative government’s Feb. 11 budget estimated the 2013-14 deficit would come in at $16.6-billion, and would then drop to $2.9-billion in 2014-15 followed by a $6.4-billion surplus in 2015-16.

In the know

Most popular videos »


More from The Globe and Mail

Most popular