* November deficit C$614 mln; year earlier C$1.67 bln
* April-Nov deficit C$13.85 bln vs yr-before C$13.62 bln
* Absent one-off factors, April-Nov gap would be C$11.7 bln
OTTAWA, Jan 31 Canada's federal budget deficit
narrowed in November 2013 to C$614 million ($548 million) from
C$1.67 billion a year earlier, with higher revenues outstripping
a more modest increase in expenses, the Department of Finance
said on Friday.
The deficit for the April-November period, representing the
first eight months of the fiscal year, increased to C$13.85
billion from C$13.62 billion in the same period in 2012.
The increase in the deficit for the year to date was mainly
due to a C$2.8 billion liability the government booked in
September for helping Alberta recover from floods in July. The
government had also registered a C$700 million gain on the sale
of General Motors Co stock. Absent these two factors, the
deficit for April to November would have been C$11.7 billion.
The Conservative government ran a record budget deficit in
nominal terms, though not in proportion to the size of the
economy, in reaction to the recent Great Recession, but it has
pledged to return to the black by 2015.
Finance Minister Jim Flaherty, in announcing that he will
deliver his 2014-15 budget on Feb. 11, said on Monday there was
no doubt the federal deficit would be balanced in
For the month of November, revenues were up 8.2 percent and
program spending by 3.3 percent from a year earlier, while
public debt charges declined by 2.0 percent.