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Benjamin Reitzes
Verified
Host, Macro Horizons
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Credit card rewards loyalty programs travel personal finance
Animals rights and protection.
Content
Ignore the political fireworks in Ottawa, the real story is Canada’s deteriorating fiscal situation: BMO
By Robert Kavcic, Benjamin Reitzes| The Hub Canada@ Once the political fireworks settle down after Finance Minister Freeland’s surprise resignation, what remains is a budget situation that is following a weaker path than set out in the spring. The fiscal year (FY) 2024/25 budget deficit is now estimated at $48.3 billion, or 1.6 percent of GDP, a meaningfully weaker position versus the $39.8 billion estimated in the 2024 budget.
By Douglas Porter, Robert Kavcic, Benjamin Reitzes| nationalnewswatch.com@ Ottawa’s fiscal update reveals a somewhat firmer budgetary picture, with a big upside surprise on revenues only partly offset by a variety of new spending measures. However, the broad brush remains the same, and this update is simply that—an update, with only a few moderate measures, and more significant fiscal steps still to come in next year’s budget. This year’s deficit is now expected to clock in at $144.5 billion (versus a Budget estimate of $154.7 billion), or 5.8 per cent of GDP.
Ignore the political fireworks in Ottawa, the real story is Canada’s deteriorating fiscal situation: BMO
By Robert Kavcic, Benjamin Reitzes| The Hub Canada@ Once the political fireworks settle down after Finance Minister Freeland’s surprise resignation, what remains is a budget situation that is following a weaker path than set out in the spring. The fiscal year (FY) 2024/25 budget deficit is now estimated at $48.3 billion, or 1.6 percent of GDP, a meaningfully weaker position versus the $39.8 billion estimated in the 2024 budget.
Company Info
Macro Horizons
Toronto, Ontario, Canada
+1 416-867-6785