Highlights of the Canadian Federal government budget
- Sees deficit narrowing to $12.3B by 2022
- Sees cumulative deficits of $98B through 2022
- Debt-to-GDP to narrow to 28.4% from 30.1% in 2018
The deficit forecasts are little changed from October.
- Forecasts GDP growth of 2% on average between 2017-2022
One change in the budget was that $7.2 billion that had been allocated for infrastructure spending through 2019 has been reallocated to other departmental spending, with more than half going to veterans.
USD/CAD hasn't shown any particular reaction to the news. It's at the highs of the day at 1.2772 but that's in line with the moves against the other commodity currencies.
