Archived - Release of The Fiscal Monitor for February 2015

April 21, 2015 – Ottawa, Ontario – Department of Finance

Finance Minister Joe Oliver today released The Fiscal Monitor for February 2015.

There was a budgetary surplus of $4.6 billion in February 2015, down from the budgetary surplus reported for February 2014 of $5.2 billion.

Revenues decreased by $0.6 billion, or 2.2 per cent, reflecting decreases in most tax revenue streams. Program expenses increased by $0.3 billion, or 1.7 per cent, reflecting increases in major transfers to persons and other levels of government. Public debt charges decreased by $0.4 billion, or 16.3 per cent, largely reflecting lower Consumer Price Index adjustments on Real Return Bonds.

• For the April 2014 to February 2015 period of the 2014–15 fiscal year, the Government posted a budgetary surplus of $5.9 billion, compared with a deficit of $4.8 billion reported in the same period of 2013–14.
• During the same period, revenues were up $7.1 billion, or 2.9 per cent, reflecting increases in most revenue streams.
• Program expenses were down $2.5 billion, or 1.1 per cent, reflecting a decrease in direct program expenses, offset in part by increases in major transfers to persons and other levels of government.
• Public debt charges were down $1.1 billion, or 4.3 per cent, largely reflecting a lower average effective interest rate on bonds.

• The Fiscal Monitor
• Future Release Dates of The Fiscal Monitor
• Economic Action Plan 2015

Melissa Lantsman
Director of Communications
Office of the Minister of Finance
613-369-5696

Stéphanie Rubec
Media Relations
Department of Finance
613-369-4000