OTTAWA — The federal government posted a deficit of $55.28 billion for its 2025-26 fiscal year compared with a $43.15-billion deficit a year earlier, according to the Finance Department’s monthly fiscal monitor report.

The department cautioned the figures were not the final result for the 2025-26 fiscal year, which will include additional end-of-year adjustments and be published in the public accounts for the year.

Revenue for the period stretching from April 2025 to March this year totalled $500.02 billion, up from $494.81 billion in the same period a year earlier.

Program expenses, excluding net actuarial losses, for the year totalled $487.89 billion, up from $480.29 billion.

Public debt charges for the year amounted to $53.71 billion compared with $53.65 billion a year earlier.

Net actuarial losses totalled $13.70 billion compared with $4.02 billion a year earlier.

This report by The Canadian Press was first published May 29, 2026.

The Canadian Press