Canada posts budgetary surplus in 2014-2015 fiscal year
Xinhua, September 15, 2015 Adjust font size:
Canada posted a budgetary surplus of 1.9 billion Canadian dollars (1.4 billion U.S. dollars) for the fiscal year which ended on March 31, 2015, according to the Annual Financial Report released by the Department of Finance Monday.
The budgetary surplus exceeds the fiscal projection for 2014-15 presented in the 2015 budget, which forecasted a budgetary deficit of 2 billion Canadian dollars (1.5 billion dollars).
The department said the figure is a reversal of a deficit of 5.2 billion Canadian dollars (3.9 billion dollars) posted for the previous fiscal year. It brought an end to a six-year streak of deficits, which began in the 2008-2009 fiscal year.
The better-than-forecast budget balance reflects higher revenue than projected, the report said. Endi