(Ottawa) The federal government recorded a budget deficit of 15.1 billion from April to October, including 7 billion for the month of October, according to the monthly financial report of the Ministry of Finance.
In comparison, the deficit for the comparable period last year stood at 0.2 billion.
State revenue increased by $3 billion, or 1.2 percent, due to higher interest and other non-tax revenues.
Program spending, excluding net actuarial losses, increased by $11.8 billion, or 5.4%, compared to the same period last year. Spending in all major categories increased.
Debt service increased by 7.5 billion, or 38.1%, largely due to rising interest rates, but partly offset by falling interest on real return bonds tied to the consumer price index.
Net actuarial losses decreased by 1.3 billion, or 23.2%, compared to the same period last year.
