Canada Government Budget Value

Last Release

Oct 31, 2024

Actual

-1,490

Units In

CAD Million

-3,170

Frequency

Monthly

Next Release

Jan 31, 2025

Time to Release

1 Months 8 Days 21 Hours

Highest	Lowest	Average	Date Range	Source
9,530 Feb 2023	-44,410 Mar 2023	-2,018.06 CAD Million	1985-2024	N/A

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.

Latest Updates

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.