Federal net debt for 2020-21 will likely exceed $1.1 trillion.
economic and fiscal update
Nearly 40 per cent of second quarter growth came from the energy sector.
Therell be no doubt that were balanced in 2015, federal Finance Minister Jim Flaherty told reporters after recently meeting with a group of private sector economists. This is among Mr. Flahertys most categorical statements to date on his plan to achieve a balanced budget in 2015-16. But in light of recent economic forecasts and potential threats to the governments revenue projections, he would be well-advised to focus on further spending restraint something he can fully control in order to deliver on his promise.