Canada’s mid-year fiscal update reveals that deficit spending will surpass March forecasts, and the reduction of debt will proceed at a slower pace, as announced by its finance ministry on Tuesday. According to Reuters, despite concerns surrounding inflation and rising interest rates, Prime Minister Justin Trudeau’s government aims to address housing challenges with new measures. Analysts express worry about the sustainability of spending, especially as debt servicing costs surge. The fiscal years 2024-25 and 2025-26 are projected to experience significantly higher deficits than previously estimated, reaching C$38.4 billion and C$38.3 billion, respectively. This contrasts with March
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