OTTAWA — The federal government posted a budgetary deficit of $1.4 billion for the April-to-May period of its 2026-27 fiscal year.

In its latest monthly fiscal monitor, the Finance Department says the result compares with a deficit of $9.9 billion for the same time a year earlier.

The result came as revenues totalled $87.8 billion for the two-month period, up 15.5 per cent from $76 billion for the same period of 2025-26.

Meanwhile, program expenses excluding net actuarial losses amounted to $78.4 billion, up 3.7 per cent from $75.7 billion for the same period in the previous fiscal year.

Public debt charges totalled $9.9 billion, up 3.3 per cent from $9.6 billion compared with last year.

Net actuarial losses were $830 million, compared with $670 million a year ago.

This report by The Canadian Press was first published July 31, 2026.

The Canadian Press