Federal government posts $25.7-billion deficit between April and January

The federal government recorded a budgetary deficit of $25.7 billion as of the end of January for the current fiscal year.

The Finance Department says in its monthly fiscal monitor that the deficit between April and January compared with a $6.4-billion deficit during the same period a year earlier.

Government revenues increased by $10.5 billion, or three per cent, largely due to higher personal income tax revenues, other tax revenues and non-tax revenues.

Meanwhile, program expenses excluding net actuarial losses increased by $21.2 billion, or 6.7 per cent as spending increased across all major categories.