Public accounts detail how feds’ deficit rose by more than 700 per cent during pandemic
The economic fallout of COVID-19 resulted in the government's tax revenues falling by 5.3 per cent, while its spending expenses rose by 72 per cent.
The federal government's deficit skyrocketed in 2021, hitting $327.7-billion for the fiscal year that ended March 2021, compared to a deficit of $39.4-billion in the previous fiscal year—an increase of 731 per cent.
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