The federal deficit is going to be a lot smaller than originally predicted. $11 billion smaller. I'm sure the grits will gnash whatever is left of their teeth. Strong growth is shrinking the deficit. More good economic news for the last week of the campaign.
OTTAWA — The federal government may be on pace to pull Canada out of the red earlier than expected, according to a Finance Department report released on Thursday.
The monthly Fiscal Monitor indicated that the federal deficit grew by $600-million in February, after gaining $300-million in January.
With one month remaining in the fiscal year, the federal deficit sits at $28.3-billion — well under the $40-billion deficit for 2010-11 that Finance Minister Jim Flaherty projected last month.