XPost: soc.culture.canada, can.atlantic.general, can.general   
   XPost: can.politics, soc.culture.quebec   
   From: abc@a123.ca   
      
   Balanced budget in sight as Canada’s deficit drops to $1.1-billion   
      
   Sep 28, 2012   
      
   Sean Kilpatrick/Bloomberg News files Ottawa appears to be on track to   
   meet its budget projection of a $21.1-billion deficit for the 2012-13   
   fiscal year.   
      
   OTTAWA — The federal government says its deficit shrank to $1.1-billion   
   in July, an improvement from last year’s $1.7-billion shortfall that   
   takes it closer to its goal of balancing the budget.   
      
   For the first four months of fiscal year, the deficit shrank to $3-   
   billion compared with $5.9-billion for the same period last year.   
      
   As a result, Ottawa appears to be on track to meet its budget projection   
   of a $21.1-billion deficit for the 2012-13 fiscal year, almost $4-billion   
   lower than the previous year.   
      
   Related   
   Canada’s economy beats our low expectations — but just   
   Ottawa’s budget on track, but burden shifted to provinces, watchdog warns   
   The government says revenues increased by $153-million, or 0.8%, in July   
   while program expenses declined by $72-million.   
      
   For the first third of the year, revenues were up $3-billion, or 3.7%.   
   Program expenses were also up but not as much — by $933-million, or 1.2%.   
      
   The government says charges to service the national debt were down by   
   $826 million in the first four months.   
      
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