The Canadian flag flies atop the Peace Tower on Parliament Hill in Ottawa, Wednesday, Oct. 30, 2024. THE CANADIAN PRESS/Sean Kilpatrick

By The Canadian Press

Federal government posts $7.8B deficit for April-to-July period

Sep 26, 2025 | 10:45 AM

OTTAWA — The federal government posted a budgetary deficit of $7.8 billion for the first four months of its 2025-26 fiscal year.

According to the Finance Department’s monthly fiscal monitor, the result for the April-to-July period compared with a deficit of $7.3 billion in the same period a year earlier.

Revenue for the period totalled $163.4 billion, up from $160.8 billion a year earlier, as tax revenues rose 4.5 per cent.

Total program expenses, excluding net actuarial losses, increased to $151.3 billion compared with $146.9 billion.

Public debt charges for the period amounted to $18.6 billion, down from $18.7 billion.

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Net actuarial losses were $1.3 billion, down from $2.5 billion a year earlier.

This report by The Canadian Press was first published Sept. 26, 2025.

The Canadian Press