Newspaper article The Canadian Press

Ottawa Posts $2.3 Billion Deficit of August, According to Monthly Fiscal Monitor

Newspaper article The Canadian Press

Ottawa Posts $2.3 Billion Deficit of August, According to Monthly Fiscal Monitor

Article excerpt

Ottawa posts $2.3 billion deficit of August

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OTTAWA - The federal government saw its surplus for this fiscal year cut nearly in half as it ran a $2.3-billion deficit in August, according to the Finance Department's monthly fiscal monitor.

The result for August compared with a deficit of roughly $300 million in the same month last year.

Ottawa's surplus for the April-to-August period stood at $2.8 billion compared with a deficit of $1.1 billion for the same five-month period last year.

The update to the government's fiscal position comes as Liberal Leader Justin Trudeau prepares to be sworn in as prime minister next week.

The Liberals won the federal election earlier this month with a campaign promise to run deficits to fund billions in infrastructure spending. …

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