Federal budget projects surplus by 2015-16

Projections included in the 2011-12 federal budget brought down on March 22 by Minister of Finance Jim Flaherty indicate that the federal government will return to a surplus position by the 2015-16 fiscal year.

The projections indicate that the current federal deficit—$40.5 billion for the 2010-11 fiscal year ending March 31, 2011—will decline by about $10 billion per year, on the following schedule:

2011-12: -$29.6 billion

2012-13: -$19.4 billion

2013-14:   -$9.5 billion

2104-15:   -$0.3 billion

In 2015-16, the budget projections call for a surplus of $4.2 billion. The budget’s financial projections can be found in the Budget in Brief document on the Department of Finance Web site at http://www.budget.gc.ca/2011/glance-apercu/brief-bref-eng.html, while the complete Budget papers are available at http://www.budget.gc.ca/2011/home-accueil-eng.html.

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