Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Canada trims budget deficit, ups debt-to-GDP figures for 2017/18

Published 2018-10-19, 12:14 p/m
Updated 2018-10-19, 12:20 p/m
© Reuters.  Canada trims budget deficit, ups debt-to-GDP figures for 2017/18

© Reuters. Canada trims budget deficit, ups debt-to-GDP figures for 2017/18

Oct 19 (Reuters) - Canada's finance ministry on Friday released final figures for the 2017/18 fiscal year and said the budget deficit was slightly smaller than initially forecast, while the debt-to-GDP ratio had edged up.

The budget deficit for 2017/18 was C$19.0 billion ($14.5 billion), down from the previous stated estimate of C$19.4 billion. Due to accounting changes, Ottawa revised the previous estimate, which it now says should have been C$19.9 billion.

The changes, which will increase the size of the debts that the ministry reports, are designed to ensure the government can more accurately estimate future pension obligations.

The changes mean the final federal 2017/18 debt-to-gross domestic product ratio is 31.3 percent, up from an initial estimate of 30.4 percent.

The Liberal government predicts the ratio will fall to 28.4 per cent in the 2022/23 fiscal year.

($1 = 1.3103 Canadian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.