Canada's FinMin Morneau: Canada budget deficit seen lower

Canada's Finance Minister Morneau is crossing the wires, announcing the country's budget estimates. 

Key headlines

Canada sees C$19.9 billion deficit in 2017/18 versus prior C$28.5 billion (from March)

Canada 2018/19 budget deficit expected to be C$C$ 18.6 billion compared to C$27.4 billion forecast in March

 Canada 2017 growth forecast 3.1% vs  2 2.0% seen in March 2018 growth forecast 2.1% versus 2.0% seen in March

 Canada 2017/18 federal debt to GDP ratio 30.6% versus 31.6% March

 Canada to GDP ratio at 28.5% in 2022/23

 Canada five-year deficit seen at C$86.5 billion versus prior 120 billion forecast