Canadian government balances the budget

Final revisions to the fiscal year ended in March showed the Canadian government with a $1.9 billion surplus. That compares to projections of a $2.0 billion deficit.

The government had long promised to balance the budget in the current fiscal year.

This will definitely raise some skeptical eyebrows with an election just over a month away and the governing Conservatives trailing in the polls.

Canada has the strongest fiscal position in the G7 with a 40.4% debt to GDP ratio including local and provincial debt. Federal debt to GDP now sits at 31.0% compared to 32.3% the year before.