(September 23) – Finance Minister Paul Martin has just released the sixth Annual Financial Report of the Government of Canada. He’s boasting a $2.9 billion surplus for fiscal 1998-1999 – the first back-to-back surplus in 47 years.

Martin says the $2.9-billion surplus “reflects the government’s continued balanced approach.” The surplus was applied to the national debt, which now stands at $576.8 billion. The public debt to GDP ratio is down to 64.4% from a high of 71.2% in fiscal 1995-1996.

The 1998-99 Annual Financial Report and the Fiscal Reference Tables are available free of charge on the Department of Finance Web site.

-IE Staff

For more please see:

www.fin.gc.ca