Overview

• The April–June shortfall compares with a C$2.88 billion deficit in the same period a year earlier, according to the finance ministry.
• Program expenses excluding net actuarial losses increased 4.6%, driven by larger transfers to persons and provinces.
• Year‑to‑date revenues grew 2.9%, including a 183% surge in customs import duties to C$3.57 billion tied to counter‑tariffs on U.S. goods.
• Public debt charges dipped 0.6% as lower treasury bill rates were largely offset by higher effective rates on a bigger stock of marketable bonds.
• For June alone, the government posted a C$3.63 billion surplus, up from a C$939 million surplus in June 2024.