Canada December FY YTD budget deficit at $21.72B vs $22.72B a year ago

Canada’s fiscal year-to-date budget deficit stands at $21.72B versus $22.72B a year ago. In December there was a surplus of $1 billion compared to a deficit of $4.71B a year ago.

Timing shifts around the number of pay periods in a month make it hard to compare as November produced a particularly large deficit. For the year though, the numbers are stable. That said, the government introduced a two-month HST (sales tax) holiday in mid-December that’s expected to cost just under $2 billion and should show up soon.

Overall, Canada is in surprisingly good fiscal shape at the federal level, leaving an incoming government with room to manoeuvre.

This article was written by Adam Button at www.forexlive.com.