Federal government posts $18.3B deficit for April 2012-March 2013
OTTAWA – The federal government posted a deficit of $18.3 billion before adjustments for the 12 months ended March 31.
The results compare with a deficit of $21.6 billion in the same period a year earlier.
The Finance Department says the results were in line with the March budget which projected a $25.9-billion deficit after the year-end adjustments.
The federal government’s revenue for the 12-month period totalled $253.9 billion, up by $3.4 billion from a year earlier.
Program spending totalled $243.2 billion, up by $2.7 billion and public debt charges were $29 billion, down by $2 billion.
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