Canadian Prime Minister Mark Carney has unveiled a lower government deficit than expected, thanks to a surge in oil prices and signs of resiliency in the economy despite tariff threats and geopolitical uncertainty.
A spring economic update shows the country's debt is now about 14% lower than projected. The government's autumn budget had predicted a deficit of C$78.3bn ($57.2bn; £43.4bn) for the 2025-26 fiscal year.
The new figures come a day after Canada announced a sovereign wealth fund that will be used to invest in infrastructure and other domestic projects.
Ahead of the mini budget, Carney told reporters to expect "good news", and credited his government for being "good fiscal managers".
"We were determined to get spending down with a lot of very… difficult decisions," he said on Monday.
