MNI: Canada Apr-July Budget Deficit Widens Slightly To CAD7.8B

Canada's budget deficit from the start of the fiscal year in April through July was CAD7.8 billion or half a billion Canadian dollars bigger than the the prior year, the finance department said Friday.

Revenues climbed CAD2.6 billion, or 1.6%, boosted in part by the collection of retaliatory tariffs on the U.S. that were withdrawn Sept. 1. Program expenses increased CAD4.4 billion, or 3% according to the Fiscal Monitor. 

The finance minister is due to present a budget for the fiscal year that began April 1 on Nov. 4 after a delay partly caused by the April 28 election that brought Mark Carney to power. The government hasn't commented on reports by the CD Howe Institute and La Presse newspaper that the deficit will be about CAD100 billion versus a campaign platform at about CAD62 billion. 

For the month of July the deficit narrowed to CAD1.5 billion from CAD4.4 billion a year earlier.