Federal Government Posts $8.2 Billion Deficit Between April and September This Year

The federal government recorded a budgetary deficit of $8.2 billion between April and September, $3.9 billion of which was in September. The finance department says in its monthly fiscal monitor that the deficit between April and September compared to a surplus of $1.7 billion during the same period last year. Government revenues increased by $3.5 billion, or 1.7 percent, a reflection of higher interest revenues and other non-tax revenues. Program expenses excluding net actuarial losses were up $8.9 billion, or 4.8 percent, from the same period a year earlier. Public debt charges were up $5.7 billion, or 33.1 percent, largely due to higher interest rates but partly offset by lower Consumer Price Index adjustments on Real Return Bonds....