The Canadian flag blows on the Peace Tower on Parliament Hill.Sean Kilpatrick/The Canadian Press
The federal government posted a deficit of $55.28-billion for its 2025-26 fiscal year compared with a $43.15-billion deficit a year earlier, according to the Finance Department’s monthly fiscal monitor report.
The department cautioned the figures were not the final result for the 2025-26 fiscal year, which will include additional end-of-year adjustments and be published in the public accounts for the year.
Revenue for the period stretching from April, 2025, to March this year totalled $500.02-billion, up from $494.81-billion in the same period a year earlier.
Program expenses, excluding net actuarial losses, for the year totalled $487.89-billion, up from $480.29-billion.
Public debt charges for the year amounted to $53.71-billion compared with $53.65-billion a year earlier.
Net actuarial losses totalled $13.70-billion compared with $4.02-billion a year earlier.
Editor’s note: The headline in a previous version of this article misstated the federal deficit. This version has been corrected.