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Canada's Q1 Deficit Grows to $3.3 Billion Amid Rising Revenues

8/30/2025

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Summary

Story summary

Canada reported a $3.3 billion deficit in the first quarter, an increase from $2.9 billion last year.
Revenues rose by $3.5 billion (2.9%) due to higher customs duties and tax revenues.
Program expenses increased by $5 billion (4.6%), while public debt charges decreased by $100 million (0.6%).

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Story summary

Canada reported a $3.3 billion deficit in the first quarter, an increase from $2.9 billion last year.
Revenues rose by $3.5 billion (2.9%) due to higher customs duties and tax revenues.
Program expenses increased by $5 billion (4.6%), while public debt charges decreased by $100 million (0.6%).