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Originally published by Capital Business
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business
April 29, 2026
5h ago

Canada’s spring budget projects economy to grow and deficit to fall

Canada’s spring budget projects economy to grow and deficit to fall

A spring economic update shows the country's debt is now about 14% lower than projected. The government's autumn budget had predicted a deficit of C$78.3bn ($57.2bn; £43.4bn) for the 2025-26 fiscal year. Kenya breaking news | Kenya news today |..

✨ Key Highlights

Canadian Prime Minister Mark Carney has announced a lower-than-expected government deficit for the 2025-26 fiscal year, attributed to higher oil prices and economic resilience.

  • The government's deficit is now projected to be 14% lower than initially forecast, a significant improvement from the autumn budget's prediction of C$78.3bn.
  • Prime Minister Mark Carney emphasized the government's role as "good fiscal managers" and highlighted difficult decisions made to reduce spending.
  • A new sovereign wealth fund, the Canada Strong Fund, has been launched with an initial investment of C$25bn to support domestic projects in sectors like energy and technology.

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