Canada October budget balance C$-1.49 billion vs previous C$-3.17 billion

• Budget Deficit: Canada recorded a slightly lower budget deficit of C$14.50 billion ($10.09 billion) for the first seven months of the 2024/25 fiscal year compared to C$15.13 billion in the same period last year.
• Program Expenses: Increased by 9.8% across all major categories of spending.
• Public Debt Charges: Rose by 19.4%, mainly due to higher effective rates on bonds and treasury bills.
• Revenues Growth: Year-to-date revenues grew by 10.7%, driven by higher personal income tax revenue and other taxes.
• Monthly Comparison: In October, Canada posted a deficit of C$1.49 billion, significantly lower than the C$6.96 billion deficit in October 2023

This article was written by Greg Michalowski at www.forexlive.com.