In the red: federal government posts narrow $1 billion deficit in 2015-16

OTTAWA - The federal government posted a razor-thin $1-billion deficit in 2015-16, a period in which both the Liberals and Conservatives had turns managing the public books.

The shortfall, released in a package of year-end numbers Friday, was a bit smaller than the $5.4-billion deficit projected by the Trudeau government in its March budget.

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