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Canada posts budget deficit of 10 billion USD in FY2018-19

Published: September 18, 2019 12:50:39 | Updated: September 21, 2019 13:03:08


Canada ended the fiscal year 2018-2019 with a deficit of 14 billion Canadian dollars (10.6 billion US dollars) on March 31, said the Finance Department Tuesday.

In fiscal year 2017-2018, Canada saw a deficit of 19 billion Canadian dollars (14.33 billion US dollars), reports Xinhua.

Total federal debt at the end of the 2018-2019 fiscal year came to 685.5 billion Canadian dollars (517.4 billion US dollars), compared with 671.3 billion Canadian dollars for the previous year.

However, the country's federal debt-to-GDP ratio fell to 30.9 per cent from 31.3 per cent a year ago.

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