Canada records C$6.33b budget surplus

OTTAWA, Sept 25 (Reuters): Canada recorded a C$6.33 billion ($4.67 billion) budget surplus for the first four months of the 2022/23 fiscal year, helped by higher tax revenues and the ending of coronavirus support measures, the finance ministry said on Friday.
By comparison, Canada posted a C$47.33 billion deficit in the period from April to July 2021.
Year-to-date revenues were up 20.7 per cent on a broad-based improvement in income streams. Programme expenses were 20.1 per cent lower, largely reflecting lower transfers to individuals and businesses as COVID support wound down, the finance ministry said.
"As expected, the government's 2022-23 financial results continue to improve compared to the peak of the COVID-19 crisis and the unprecedented level of temporary COVID-19 response measures at the time," the ministry said in a statement.
On a monthly basis, Canada posted a deficit of C$3.87 billion in July, compared to the C$10.86 billion deficit recorded a year ago.