Canada recorded a CAD 1.98 billion budget deficit in December of 2022, switching from a CAD 3.58 billion surplus in the corresponding month of the previous year. The government posted a budgetary deficit of CAD 5.54 billion for the April to December period of the 2022-23 fiscal year, compared to a deficit of CAD 70.11 billion reported for the same period a year earlier partly due to a rise in debt charges linked to higher inflation and interest rates. Year-to-date revenues were up 11.4% on a broad-based improvement in income streams. Program expenses were down 12.3%, largely reflecting lower transfers to individuals and businesses as COVID-19 supports were wound down. Public debt charges increased 38.4% this fiscal year, primarily reflecting higher interest rates and higher inflation adjustments on real return bonds, which have a coupon that is linked to the level of the consumer price index. source: Department Of Finance Canada

Government Budget Value in Canada averaged -1863.42 CAD Million from 1985 until 2022, reaching an all time high of 5770.00 CAD Million in February of 2005 and a record low of -43932.00 CAD Million in May of 2020. 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 March of 2023.

Government Budget Value in Canada is expected to be 237.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Government Budget Value is projected to trend around 2966.00 CAD Million in 2024 and 2833.00 CAD Million in 2025, according to our econometric models.

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Canada Government Budget Value



Calendar GMT Actual Previous Consensus TEForecast
2023-01-27 04:00 PM Nov C$-3.38B C$-1.9B C$-2.7B
2023-02-24 04:00 PM Dec C$-1.98B C$-3.38B C$0.6B
2023-03-31 03:00 PM Jan C$-1.98B C$-1.5B


Related Last Previous Unit Reference
Government Budget -4.70 -14.90 percent of GDP Dec 2021
Government Budget Value -1983.00 -3379.00 CAD Million Dec 2022
Government Revenues 35326.00 30932.00 CAD Million Dec 2022
Fiscal Expenditure 33170.00 30552.00 CAD Million Dec 2022
Government Debt 1134.49 1048.75 CAD Billion Dec 2022

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
-1983.00 -3379.00 5770.00 -43932.00 1985 - 2022 CAD Million Monthly
Current Prices, NSA

News Stream
Canada Government Budget Swings to Deficit in December
Canada recorded a CAD 1.98 billion budget deficit in December of 2022, switching from a CAD 3.58 billion surplus in the corresponding month of the previous year. The government posted a budgetary deficit of CAD 5.54 billion for the April to December period of the 2022-23 fiscal year, compared to a deficit of CAD 70.11 billion reported for the same period a year earlier partly due to a rise in debt charges linked to higher inflation and interest rates. Year-to-date revenues were up 11.4% on a broad-based improvement in income streams. Program expenses were down 12.3%, largely reflecting lower transfers to individuals and businesses as COVID-19 supports were wound down. Public debt charges increased 38.4% this fiscal year, primarily reflecting higher interest rates and higher inflation adjustments on real return bonds, which have a coupon that is linked to the level of the consumer price index.
2023-02-24
Canada Government Budget Gap Widens in November
Canada’s government budget deficit widened to CAD 3.4 billion in November 2022 from CAD 1.4 billion in November 2021. The government posted a budgetary deficit of CAD 3.6 billion for the April to November period of the 2022-23 fiscal year, compared to a deficit of $73.7 billion reported for the same period a year earlier partly due to higher debt charges. Year-to-date revenues were up 14.8% on a broad-based improvement in income streams. Program expenses were down 13.9%, largely reflecting lower transfers to individuals and businesses as COVID-19 support wound down. Public debt charges increased 35.8% this fiscal year, primarily reflecting higher interest rates and higher inflation adjustments on real return bonds, which have a coupon that is linked to the level of the consumer price index.
2023-01-27
Canada Government Budget Gap Narrows in October
Canada’s government budget deficit narrowed to CAD 1.9 billion in October of 2022 from CAD 3.68 billion in the corresponding month of the previous year. For the first seven months of the 2022/23 fiscal year, Canada recorded a government budget deficit of CAD 174 million. Revenues rose 17.6% on a broad-based improvement in income streams while program expenses dropped 15.6%, largely reflecting lower transfers to individuals and businesses as COVID-19 support wound down. Public debt charges increased 35.7% this fiscal year, primarily driven by higher interest rates and higher inflation adjustments on real return bonds, which have a coupon that is linked to the level of the consumer price index.
2022-12-23