Canada posts budget deficit of 10 billion USD in 2018-19 fiscal year

OTTAWA, Sept.17 (Xinhua) -- Canada ended the fiscal year 2018-2019 with a deficit of 14 billion Canadian dollars (10.6 billion U.S. dollars) on March 31, said the Finance Department Tuesday.

In fiscal year 2017-2018, Canada saw a deficit of 19 billion Canadian dollars (14.33 billion U.S. dollars).

Total federal debt at the end of the 2018-2019 fiscal year came to 685.5 billion Canadian dollars (517.4 billion U.S. dollars), compared with 671.3 billion Canadian dollars for the previous year. However, the country's federal debt-to-GDP ratio fell to 30.9 percent from 31.3 percent a year ago.