MikeLigalig.com

Canada is reporting a finance deficit of 5 billion Canadian dollars (about 4.5 billion U. S. dollars) in June, as a result of lower tax revenues and high spending on employment insurance (EI) and the auto bailout.

In the same month last year, the government had a 1.6 billion Canadian dollars surplus.

The deficit for the first three months of the fiscal year, April to June, widened to 12.5 billion Canadian dollars, compared with a surplus of 800 million Canadian dollars in the same period in 2008, the Finance Department said in its monthly Fiscal Monitor Friday.

In June, revenues fell 13.1 percent, due to a lower taking from income tax and the goods and service tax (GST).

Total spending hit 20.7 billion Canadian dollars, up 25.2 percent, because of higher E costs and support payments for the auto industry.

The government is projecting a deficit of 50.2 billion Canadian dollars this fiscal year. (1 U.S. dollar = 1.1111 Canadian dollars)(PNA/Xinhua)

Nag hisgot bitaw silang banana ani gabii  ug ang iyang mga barkada (sa party nga among giattenan) bahin aning GLOBAL CRISIS, na depress noon ko hangtud karon...

Ingon nila nga mo abut pa daw ni ug pila ka mga tuig usa ma ulian. Louy daw ang next generations.

Haaaay na depress jud ko ani namati.

dakoa sa deficit, unsaon naman na nila paghurot og gasto, mdb? hehehehe