Federal government reports $25.5B deficit for its April-to-February period

OTTAWA — The federal government posted a budgetary deficit of $25.5 billion for the April-to-February period of its 2025-26 fiscal year.

In its monthly fiscal monitor, the Finance Department says the result compared with a deficit of $19.3 billion for the same period of 2024-25.

The result came as revenue totalled $453.2 billion for the 11-month period, up 0.8 per cent from $449.8 billion a year earlier.

Meanwhile, program expenses excluding net actuarial losses amounted to $424.9 billion, up 2.1 per cent from $416.1 billion for the same period in the previous year.

Public debt charges totalled $49.3 billion, roughly the same as year earlier.

Net actuarial losses were $4.6 billion, compared with $3.7 billion a year ago.

This report by The Canadian Press was first published April 24, 2026.