(MENAFN) Canada registered a budget deficit of USD14.5bn for the 2016-17 economic years.
This deficit considered lower than the preliminary deficit of USD21.85bn reported in May and more than the USD1.0bn deficit the year before, as reported by the Finance Department.
The program fixed costs raised from 2015-2016 financial years by USD16.2bn, or 6 percent to USD287.2bn, due to a revamped children's benefit.
On the other hand, revenues decreased by USD2.0bn, or 0.7 percent, to USD293.5bn.
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