Canada's Budget Deficit Plummets in April-May 2026
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Insights by Echo AI
Canada's budget deficit for April and May 2026 significantly decreased year-over-year. Revenue grew faster than expenses, with a CAD 1.36 billion deficit compared to last year's CAD 9.91 billion. Revenue increased by 15.5%, driven by higher income tax and VAT yields, while expenses rose by only 3.7%. Public debt servicing costs increased by 3.3%.
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