{"id":37986,"date":"2023-08-25T16:11:48","date_gmt":"2023-08-25T16:11:48","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/08\/25\/ottawa-posts-3-62-billion-surplus-for-april-to-june\/"},"modified":"2023-08-25T16:11:48","modified_gmt":"2023-08-25T16:11:48","slug":"ottawa-posts-3-62-billion-surplus-for-april-to-june","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/08\/25\/ottawa-posts-3-62-billion-surplus-for-april-to-june\/","title":{"rendered":"Ottawa posts $3.62-billion surplus for April to June"},"content":{"rendered":"
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OTTAWA \u2014 The federal government posted a budgetary surplus of $3.62 billion for the first three months of its 2023-24 fiscal year, compared with a surplus of $10.20 billion in the same period a year earlier.<\/p>\n

In its fiscal monitor report, the Finance Department says revenues for the period totalled $110.58 billion, up from $107.88 billion a year earlier, largely reflecting higher personal income tax revenue, interest revenue and EI premium revenue.<\/p>\n<\/p><\/div>\n

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Program expenses excluding net actuarial losses amounted to $93.81 billion, up from $87.03 billion in the same period last year.<\/p>\n

The government says the higher spending was due to increases in direct program expenses, proceeds from the pollution pricing framework returned and transfers to other levels of government.<\/p>\n