The Canadian Press

The federal deficit officially came in at $5.8 billion for 2008-09 financial year, according to the government’s annual financial report published Friday.

Revenue for the year ended March 31, totalled 233.1 billion, down from 242.4 billion the previous year.

Spending amounted to $208.9 billion, up from 199.5 billion, while public debt charges totalled $31 billion, down from $33.3 billion.

The federal debt-to-gross domestic product ratio was 29% for the year its lowest level since 1979-80, down 0.9 percentage points from a year earlier.

The ratio had peaked at 68.4% in 1995-96.