Item 1 of 2 Canada’s Prime Minister Mark Carney meets local ironworkers in Calgary, Alberta, Canada November 27, 2025. REUTERS\/Todd Korol<\/p>\n
[1\/2]<\/b>Canada’s Prime Minister Mark Carney meets local ironworkers in Calgary, Alberta, Canada November 27, 2025. REUTERS\/Todd Korol Purchase Licensing Rights, opens new tab<\/a><\/p>\n OTTAWA, Nov 28 (Reuters) – Canada recorded a slightly higher C$16.09 billion ($11.52 billion) budget deficit for the first six months of the 2025\/26 fiscal year as government expenditures grew faster than revenues, the finance ministry said on Friday.<\/p>\n By comparison, the deficit in the same period a year earlier had been C$13.01 billion, it said in a statement.<\/p>\n Sign up here.<\/a><\/p>\n Program expenses rose 4.2% on increases across almost all major categories of spending. Public debt charges fell by 2.2% largely because of lower interest rates, the ministry said.<\/p>\n Year-to-date revenues grew by 2.5%, largely reflecting higher personal income tax revenue and revenue from other taxes and duties, including higher customs duties collected due to Canada’s counter tariffs on the U.S.<\/p>\n Custom import duties increased 142% for the six months when compared with the six months last fiscal year.<\/p>\n On a monthly basis, Canada posted a deficit of C$5.02 billion in September, compared to a C$3.17 billion deficit in September 2024.<\/p>\n ($1 = 1.3964 Canadian dollars)<\/p>\n (Reporting by Promit Mukherjee, editing by Caroline Stauffer)<\/p>\n ((Reuters Ottawa bureau; promit.mukherjee@tr.com, opens new tab<\/a>))<\/p>\n Keywords: CANADA BUDGET\/<\/p>\n Our Standards: The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n