The government announced Friday a narrower-than-expected budget deficit estimate of 47 billion dollars (45 billion US) for the fiscal year ended March 31.
Finance Minister Jim Flaherty, who originally forecast a record deficit of 53.8 billion dollars for 2009-2010, said higher than expected tax revenues from what were set out in his budget were responsible for the dip in the government's budgetary shortfall.
But Canada's economic recovery remained shaky, he warned, and so the final figure to be released in September may change again.
Copyright 2010 AFP American Edition
