Canada's government budget deficit narrowed to CAD 1.5 billion in October 2024, down from CAD 7 billion in the same month of the previous year. During the first seven months of the 2024/25 fiscal year (April-October), the country recorded a deficit of CAD 14.5 billion, an improvement from the CAD 15.1 billion deficit reported in the same period a year earlier. Program expenses rose by 9.8%, driven by increased transfers to persons and provinces, while public debt charges surged by 19.4%, reflecting higher effective rates on marketable bonds and treasury bills. Meanwhile, government revenues climbed by 10.7%, largely due to higher corporate and personal income tax revenue. source: Department Of Finance Canada

Canada recorded a government budget deficit of 1490 CAD Million in October of 2024. Government Budget Value in Canada averaged -1989.07 CAD Million from 1985 until 2024, reaching an all time high of 9533.00 CAD Million in February of 2023 and a record low of -44405.00 CAD Million in March of 2023. This page provides - Canada Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Government Budget Value - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-11-29 04:00 PM
Budget Balance
Sep C$-3.17B C$-2.55B C$-1.82B
2024-12-20 04:00 PM
Budget Balance
Oct C$-1.49B C$-3.17B C$-4.3B
2025-01-31 04:00 PM
Budget Balance
Nov C$-1.49B C$-1.9B


Related Last Previous Unit Reference
Fiscal Expenditure 37867.00 35455.00 CAD Million Oct 2024
Government Budget -1.40 -1.30 percent of GDP Dec 2023
Budget Balance -1490.00 -3170.00 CAD Million Oct 2024
Government Debt 1173.01 1139.98 CAD Billion Dec 2023
Government Revenues 40989.00 36135.00 CAD Million Oct 2024

Canada Government Budget Value
The government budget balance is the difference between government revenues and expenses, excluding public debt charges. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.
Actual Previous Highest Lowest Dates Unit Frequency
-1490.00 -3170.00 9533.00 -44405.00 1985 - 2024 CAD Million Monthly
Current Prices, NSA


News Stream
Canada Government Budget Deficit Shrinks in October
Canada's government budget deficit narrowed to CAD 1.5 billion in October 2024, down from CAD 7 billion in the same month of the previous year. During the first seven months of the 2024/25 fiscal year (April-October), the country recorded a deficit of CAD 14.5 billion, an improvement from the CAD 15.1 billion deficit reported in the same period a year earlier. Program expenses rose by 9.8%, driven by increased transfers to persons and provinces, while public debt charges surged by 19.4%, reflecting higher effective rates on marketable bonds and treasury bills. Meanwhile, government revenues climbed by 10.7%, largely due to higher corporate and personal income tax revenue.
2024-12-20
Canada Government Budget Gap Narrows in September
Canada's government budget deficit narrowed to CAD 3.17 billion in September 2024, down from CAD 3.88 billion in the same month of the previous year. During the first six months of the 2024/25 fiscal year (April-September), the country recorded a deficit of CAD 13 billion, a significant increase from the CAD 8.2 billion deficit reported in the same period a year earlier. Program expenses rose by 12.2%, driven by higher direct program expenses and major transfers, while public debt charges surged by 19.9%, reflecting increased interest on marketable bonds and pension obligations. Meanwhile, government revenues climbed by 9.6%, reflecting broad-based growth across all major categories.
2024-11-29
Canada Government Budget Surplus Shrinks in August
Canada's government budget surplus narrowed to CAD 2.55 billion in August 2024, down from CAD 3.05 billion in the same month of the previous year. During the first five months of the 2024/25 fiscal year (April-August), the country recorded a deficit of CAD 9.84 billion, a significant increase from the CAD 4.29 billion surplus reported in the same period a year earlier. Program expenses surged by 11%, excluding net actuarial losses, while public debt charges soared by 23.1% due to higher interest rates. Conversely, government revenues grew by 9.3%, driven by increases across all major revenue categories.
2024-10-25