-- 加拿大帝國商業銀行(CIBC)在周二公佈財政數據後表示,由於財政收入增加,以及支出有所改善,加拿大聯邦政府目前預計上一財年的赤字將有所減少,同時本財年的稅收基數也將有所提高。 然而,該銀行指出,近期宣布的新支出計畫旨在支持「仍然疲軟」的經濟,加上週二公佈的其他一些措施,意味著支出也將增加。因此,與2025年預算相比,2026/27財政年度及以後的赤字預測變化不大。 目前預計2025/26財年的赤字為669億加元,比去年預算的預期減少了115億加元。財政收入,尤其是所得稅收入,增加了70億加元,而直接項目支出則減少了140億加元。 然而,加拿大帝國商業銀行(CIBC)指出,由於與員工福利相關的67億加元支出被重新歸類為精算淨虧損,因此並未對整體預算赤字產生影響,這一支出數字在一定程度上被誇大了。 儘管起點有所改善,但自去年預算以來宣布的新措施(這些措施在周二的更新中首次納入考量)意味著,2026/27財年的預計赤字與2025年預算相比幾乎沒有變化。該銀行表示,赤字為653億加元,略低於名目國內生產毛額的2%,僅比前一年略低。 該銀行還指出,長期預測也顯示,赤字將與先前的預測接近,因為更高的收入基數繼續被周二以及前幾週/幾個月宣布的一些措施所抵消。 2028/29財年,債務佔GDP的比率將從41.1%上升至41.9%的峰值,儘管這一峰值較2025年預算案預測值低近1.5個百分點,這主要是由於名義GDP的向上修正。 加拿大帝國商業銀行(CIBC)補充道,預算預測是基於對近期經濟成長乏力的預期,但預計2027年及以後將有所改善。今年的實質GDP成長預測為1.1%,2027年為1.9%,與2025年預算案相比變化不大。但由於近期油價上漲,名目GDP的預測值已提高(2026年為4.0%,此前為3.0%)。 儘管2026/27財政年度的預算赤字與2025年預算案相比變化不大,但由於去年的赤字較小,本年度的融資需求略低於最初的預期。據加拿大帝國商業銀行 (CIBC) 稱,債券發行量預計仍將維持在 2,980 億美元,借款變化需要透過減少國庫券發行量來彌補。
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