Canada budget officer sees lasting fiscal deficit

OTTAWA, July 6 (Reuters) - Canada's parliamentary budget officer predicted on Monday the federal government will not balance its books by 2013-14 as promised, estimating a cumulative deficit over five years of C$155.9 billion ($134.4 billion).

In a report released to the House of Commons finance committee and obtained by Reuters, the independent budget officer, Kevin Page, projected a deficit of C$48.6 billion in the current fiscal year, and a deficit every year through to 2013-14, when he projected the deficit will be C$16.7 billion.

He said the budget deficits from 2012 to 2014 will be structural rather than cyclical, but small nonetheless.

On June 11, the government estimated it would run a C$50.2 billion ($43.3 billion) deficit this fiscal year and later said it was committed to returning to surplus in 2013-14.

($1=$1.16 Canadian) (Reporting by Louise Egan; editing by Peter Galloway)