Canada’s Financial Update: July 2023

Canada’s financial report for July 2023 shows a deficit of $4.86 billion. The country earned $35.38 billion in revenue while spending $40.24 billion, with significant expenses in areas like education and healthcare.

Internally, there was a deficit of $5.84 billion, resulting in an overall financial need of $10.70 billion. However, external financing experienced a positive turn with an increase of $18.55 billion.

In terms of debt, Canada saw a rise of $18.65 billion in domestic debt, but foreign currency debt decreased by $51 million. The net change in cash balances showed a positive increase of $7.85 billion.

In summary, Canada is managing its finances amid changing economic conditions.

Note: All figures are in millions of Canadian dollars for better understanding.