Global public debt is expected to surge faster than prior to the coronavirus pandemic, and will keep rising over the next few years, according to a new report from the International Monetary Fund (IMF). In the organization’s latest Fiscal Monitor report, economists stated that international government debt has tumbled briefly as exorbitant pandemic-era fiscal and…
Finance Department Says Preliminary Deficit of $314 Billion for Last Fiscal Year
OTTAWA—The federal government says its preliminary deficit for the last fiscal year was $314 billion, an unprecedented figure caused by an equally unprecedented economic shock. The early deficit figure for the 12−month period between April 2020 to March 2021 compares to a deficit of $21.8 billion over the preceding fiscal year. The government says in…
Finance Department Says Federal Deficit Hit $282.6 Billion in February
OTTAWA—The federal government says it ran a budgetary deficit of $282.6 billion through 11 months of its fiscal year as revenues dropped and pandemic aid continued to flow. The deficit from April to February compares to a deficit of $7 billion over the same period one year earlier. The government says in its monthly fiscal…
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