The federal government in Ottawa posted a deficit of $95.6 billion for its 2021-22 fiscal year.
In its monthly fiscal monitor report, the federal Finance Department said the tally for the April 1,
2021 to March 31, 2022 period compared with a deficit of $314.0 billion a year earlier.
Program expenses, excluding net actuarial losses, totalled $457.3 billion, down from $577.6
billion a year earlier due to lower financial transfers to businesses, individuals, and other levels
of government.
Public debt charges rose to $24.8 billion compared with $20.5 billion a year earlier. Revenue for
the fiscal year totalled $396.8 billion, up from $299.5 billion, due to higher taxes and other
revenue sources.
Ottawa’s net actuarial losses totaled $10.3 billion in fiscal 2021-22, down from $15.4 billion in
the year earlier period.
