COVID-19 pandemic.The result compared with a deficit of $85 million for the same period in the 2019-2020 fiscal year. Global credit rating agency issues new warning over Canada’s coronavirus spending, debt In its monthly fiscal monitor, the Finance Department says program expenses for the three-month period of April to June hit almost $167.9 billion, an increase of about $90.3 billion from the same period a year earlier.Much of that bump in spending was a result of emergency aid programs the Liberals rolled out as businesses shuttered and workers were laid off, furloughed or had their hours slashed.Major transfers to persons — which consists this fiscal year of seniors benefits, employment insurance payments, the Canada Emergency Response.