Canada: Government posted a budgetary deficit of $19.0 bln in fiscal 2018

Canada's Department of Finance recently published the 'Annual Financial Report of the Government of Canada,' with key highlights seen below.

• The Government posted a budgetary deficit of $19.0 billion for the fiscal year ended March 31, 2018, compared to an estimated deficit of $19.9 billion in the February 2018 budget.
• Revenues increased by $20.1 billion, or 6.9 per cent, from 2016–17.
• The federal debt (the difference between total liabilities and total assets) stood at $671.3 billion at March 31, 2018.
• The federal debt-to-GDP (gross domestic product) ratio was 31.3 per cent, down 0.7 percentage points from the previous year.