The federal government ran a deficit of $12.7 billion over the first eight months of its 2016-17 fiscal year — compared with a $1-billion surplus during the same period a year earlier.
The shortfall was due to a $14-billion surge in expenses, including a $7.1-billion increase in direct program costs to the treasury, the Finance Department latest monthly fiscal monitor showed Friday.
The double-digit deficit figure wasn't a surprise since the Trudeau government has pledged to run deficits over the coming years as it tries to boost the economy through infrastructure investments and larger child benefits.
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