Archived - Release of The Fiscal Monitor

July 22, 2015 – Ottawa, Ontario – Department of Finance

Finance Minister Joe Oliver today released The Fiscal Monitor for April and May 2015.

For the first two months of the 2015-16 fiscal year (April and May), there was a budgetary surplus of $3.9 billion, compared with a deficit of $1.1 billion reported in the same period last year. By month, there was a surplus of $2.5 billion in April and a surplus of $1.4 billion in May.

For the two months combined, revenues increased by $5.5 billion, or 12.8 per cent, largely reflecting increases in income taxes, excise taxes and duties, and the gain realized on the sale of the Government’s remaining holdings of General Motors common shares in April 2015.

Program expenses were up $0.6 billion, or 1.5 per cent, reflecting increases in major transfers to persons and other levels of government, offset in part by a decrease in direct program expenses. Public debt charges decreased by $0.1 billion, or 2.3 per cent.

Melissa Lantsman
Director of Communications
Office of the Minister of Finance

David Barnabe
Media Relations
Department of Finance

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