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Saudi- Canada projects deficit 3 times larger than originally said
(MENAFN- Saudi Press Agency)
OTTAWA Ontario Jumada II 13 1437 March 22 2016 SPA -- Canadian Prime Minister Justin Trudeau's new Liberal government projects a federal deficit almost three times the size it promised during last year's election according to AP.
Finance Minister Bill Morneau projected Tuesday there will be a $29.4 billion Canadian deficit (US$22.4 billion) this year and made no mention of returning to a balanced budget. Trudeau had promised a $10 billion Canadian (US$7.6 billion) deficit during the election.
The budget includes more than $2.6 billion Canadian (US$2 billion) over five years for education on aboriginal reserves plus nearly $1 billion over five years for education infrastructure.
It also provides $5.6 billion Canadian (US$4.3 billion) more in benefits to veterans and their families over five years but delays indefinitely a plan to spend billions more on procuring badly needed military ships planes and vehicles.
--SPA
23:43 LOCAL TIME 20:43 GMT
OTTAWA Ontario Jumada II 13 1437 March 22 2016 SPA -- Canadian Prime Minister Justin Trudeau's new Liberal government projects a federal deficit almost three times the size it promised during last year's election according to AP.
Finance Minister Bill Morneau projected Tuesday there will be a $29.4 billion Canadian deficit (US$22.4 billion) this year and made no mention of returning to a balanced budget. Trudeau had promised a $10 billion Canadian (US$7.6 billion) deficit during the election.
The budget includes more than $2.6 billion Canadian (US$2 billion) over five years for education on aboriginal reserves plus nearly $1 billion over five years for education infrastructure.
It also provides $5.6 billion Canadian (US$4.3 billion) more in benefits to veterans and their families over five years but delays indefinitely a plan to spend billions more on procuring badly needed military ships planes and vehicles.
--SPA
23:43 LOCAL TIME 20:43 GMT
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