Canada posts budgetary surplus in 2014-2015 fiscal year
The budgetary surplus exceeds the fiscal projection for 2014-15 presented in the 2015 budget, which forecasted a budgetary deficit of 2 billion Canadian dollars ($1.5 billion).
The department said the figure is a reversal of a deficit of 5.2 billion Canadian dollars ($3.9 billion) posted for the previous fiscal year. It brought an end to a six-year streak of deficits, which began in the 2008-2009 fiscal year.
The better-than-forecast budget balance reflects higher revenue than projected, the report said. ■