The Trudeau Liberals posted a $3.9 billion deficit in the first two months of the fiscal year.

The results for the period from April-to-May compared to a $1.5 billion surplus for the same stretch last year, reports the Canadian Press.

Canadians’ revenues increased $6.5 billion, or 8.9 percent, due to higher tax revenues.

According to the Finance Department, program expenses excluding net actuarial losses increased by $10 billion, or 15.9 percent.

Public debt charges went up by $2.3 billion, or 33.8 percent, due to higher interest rates.

Net actuarial losses decreased by $0.4 billion, or 23.2 percent.