Canada’s Department of Finance recently published the ‘Annual Financial Report of the Government of Canada,’ with key highlights seen below.
- The Government posted a budgetary deficit of $19.0 billion for the fiscal year ended March 31, 2018, compared to an estimated deficit of $19.9 billion in the February 2018 budget.
- Revenues increased by $20.1 billion, or 6.9 per cent, from 2016-17.
- The federal debt (the difference between total liabilities and total assets) stood at $671.3 billion at March 31, 2018.
- The federal debt-to-GDP (gross domestic product) ratio was 31.3 per cent, down 0.7 percentage points from the previous year.
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