Ottawa, February 23, 2007
2007-016
Related document:
The Fiscal Monitor - December 2006
The Honourable Jim Flaherty, Minister of Finance, today released The
Fiscal Monitor for December 2006.
Highlights
December 2006: budgetary surplus of $1.2 billion
There was a budgetary surplus of $1.2 billion in December 2006, up
$0.3 billion from the $0.9-billion surplus in December 2005.
Budgetary revenues rose $1.4 billion, or 7.6 per cent, due to
strong growth in personal and corporate income tax revenues as well as
non-tax revenues, dampened by declines in other revenue streams,
particularly excise taxes and duties. Program expenses increased by
$0.8 billion, or 5.5 per cent, reflecting increases in transfer
payments and departmental operating expenses. Public debt charges were up
$0.3 billion.
April to December 2006: budgetary surplus of $7.3 billion
The budgetary surplus is estimated at $7.3 billion for the first
nine months of the 200607 fiscal year, down from the $7.5-billion
surplus posted in the same period of 200506. Revenues rose
$7.8 billion, or 4.9 per cent, reflecting strong growth in income
tax revenues and non-tax revenues, partially offset by declines in excise
taxes and employment insurance premium revenues. Program expenses were up
$7.9 billion, or 6.3 per cent, due to both higher transfers and
other program expenses. Public debt charges were up $0.2 billion.
An update of the 200607 budgetary surplus projection will be
provided in the budget.
The Fiscal Monitor is a monthly document that provides highlights of
the federal government's fiscal performance, including monthly revenues,
expenses, the budgetary balance and the financial source/requirement.
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For further information, media may contact:
Chisholm Pothier
Press Secretary
Office of the Minister of Finance
613-996-7861
David Gamble
Media Relations
Department of Finance
613-996-8080
