The federal government posted a budgetary deficit of $75.3 billion for the April-to-January period of its 2021-22 fiscal year.
In its monthly fiscal monitor report, the Finance Department says the tally compared with a deficit of $268.2 billion in the same period a year earlier.
Program expenses, excluding net actuarial losses, totalled $360.2 billion for the 10-month period, down from nearly $474 billion a year earlier.
Public debt charges rose nearly $20.7 billion compared with nearly $17.2 billion in the same period a year earlier.
Revenue for the period was $314.2 billion, up from $235.8 billion.
Net actuarial losses for the period totalled $8.6 billion compared with $12.8 billion a year ago.