MEECH LAKE, Quebec, May 25 (Reuters) - The federal deficit this year will be "substantially more" than the C$33.7 billion ($30.1 billion) that was predicted in the January budget, Finance Minister Jim Flaherty said on Monday.

Flaherty, speaking to reporters, blamed the economic slowdown and lower tax revenues.

($1=$1.12 Canadian) (Reporting by Louise Egan, writing by David Ljunggren; editing by Rob Wilson)