September 26, 2022
In July 2022, Canada’s national budget showed a surplus of CAD 3.9 billion, as opposed to a deficit of CAD 10.9 billion in the corresponding month the year before. The CAD 5.9 billion (20.%) rise in revenues reflects a general improvement in all revenue streams. As a result of fewer transfers to people and enterprises, which were somewhat offset by increased transfers to other levels of government, program expenses excluding net actuarial losses decreased by CAD 1.8 billion, or 4.8%, during the same period.
Source: Trading Economics
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