Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators Higher revenue keeps federal deficit to $2.1B from April to November The deficit for the first eight months of fiscal 2018-19 compares to $9.5 billion in the same period a year earlier By The Canadian Press | January 25, 2019 | Last updated on January 25, 2019 1 min read The federal government ran a deficit of $2.1 billion through the first eight months of its 2018-19 fiscal year compared with a deficit of $9.5 billion in the same period a year earlier. In its monthly fiscal monitor, the Finance Department says revenue in the April-to-November period was up $16.7 billion, or 8.6%, boosted by increases in tax revenues, EI premium revenues and other revenues. Program expenses were up $8.0 billion, or 4.2%, due to increases in major transfers to persons and other levels of government and direct program expenses. Public debt charges increased by $1.4 billion, or 9.8%. The government’s February budget predicted a deficit of $18.1 billion for the 2018-19 fiscal year, which ends in March. For November, the government posted a deficit of $2.2 billion compared with a deficit of $2.9 billion in November 2017. The Canadian Press The Canadian Press is a national news agency headquartered in Toronto and founded in 1917. Save Stroke 1 Print Group 8 Share LI logo