Federal deficit collapses to $370-million in first quarter of 2026-27

The Finance Department's fiscal monitor shows Ottawa posted a $370-million deficit for April-to-June 2026-27, down from $6.28-billion a year earlier. Revenue rose nearly 10 per cent to $132.64-billion while program expenses grew about 4.3 per cent to $117.16-billion. Public debt charges climbed 6.1 per cent to $14.61-billion.