Canada Government Budget Value

Last Release

Oct 31, 2024

Actual

-1,490

Units In

CAD Million

-3,170

Frequency

Monthly

Next Release

Mar 28, 2025

Time to Release

26 Days 18 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 swung to a surplus of CAD 1 billion in December 2024, recovering from a CAD 2.06 billion deficit in the same month of the previous year. During the first nine months of the 2024/25 fiscal year (April-December), the country recorded a deficit of CAD 21.72 billion, narrowing from the CAD 23.61 billion deficit reported in the same period a year earlier. Program expenses rose by 10.7%, reflecting increases across all major categories, while public debt charges surged by 17.3%, driven by higher interest rates. Meanwhile, government revenues climbed by 11.8%, largely due to higher tax revenues and other taxes and duties.