Canada Records $148.58 Billion Deficit in First 4 Months of Fiscal Year

A Canadian dollar coin, commonly known as the "Loonie," is pictured in this file photo. Reuters/Mark Blinch

OTTAWA—Canada recorded a $148.58 billion budget deficit for the first four months of the 2020-21 fiscal year, reflecting the impact of the economic downturn and the cost of COVID-19 emergency aid, the finance department said Friday.

By comparison, Canada posted a $1.56 billion deficit in the same period of fiscal 2019-20.