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HomeEconomyCanada's April-June budget surplus at $10.2 billion as tax revenue rises

Canada's April-June budget surplus at $10.2 billion as tax revenue rises

Ismail Shakil

OTTAWA, August 26 (Reuters) – Canada records Canadian dollar .20 Billion Dollars ($7.2021 billion) 2022/25 Budget surplus fiscal for the first three months of the fiscal year Taxes have increased, the ministry said on Friday.

In contrast, Canada posted the Canadian dollar 36. 47 Billion deficit in April-June period 2021.

Year-to-date revenue growth 20.9% Broad improvement in revenue streams. The Treasury Department said program fees were reduced by 25%, primarily reflecting fewer transfers to individuals and businesses as COVID-19 support dwindled.

“As expected, compared to the peak of COVID, the government’s 2022- Financial performance continues to improve -12 CRISIS AND UNPRECEDENTED TEMPORARY COVID-20 response measures at the time,” the ministry said in a statement.

On a monthly basis, Canada recorded a surplus of 4.88 billion Canadian dollars in June, compared to Below the Canadian dollar . 71 Billion deficit recorded a year ago.

($1 = 1.2932 CAD)



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