Canada's government budget deficit widened sharply to CAD 31.44 billion in March of 2021 from CAD 14.79 billion in the same month of the previous year, as Ottawa continued to spend heavily to fight the ongoing coronavirus pandemic. Revenues increased 33.8 percent to CAD 34.52 billion, driven by increases in tax and other revenues, while program expenses rose 69.0 percent to CAD 64.02 billion, again on COVID-19 related spending. Canada's budget deficit in fiscal 2020/21 widened to CAD 314 billion from a deficit of CAD 21.77 billion in the previous year. source: Department Of Finance Canada

Government Budget Value in Canada averaged -1721.86 CAD Million from 1985 until 2021, reaching an all time high of 5770 CAD Million in February of 2005 and a record low of -43932 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 July of 2021.

Government Budget Value in Canada is expected to be -10000.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Budget Value in Canada to stand at -4000.00 in 12 months time. In the long-term, the Canada Government Budget Value is projected to trend around -3000.00 CAD Million in 2022 and -1500.00 CAD Million in 2023, according to our econometric models.

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Canada Government Budget Value

Actual Previous Highest Lowest Dates Unit Frequency
-31440.00 -14370.00 5770.00 -43932.00 1985 - 2021 CAD Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-02-26 04:00 PM Dec C$-16.15B C$-15.4B C$-12.2B
2021-03-26 03:00 PM Jan C$-20.01B C$-16.15B
2021-04-30 03:00 PM Feb C$-14.37B C$-20.01B
2021-05-28 03:00 PM Mar C$-31.44B C$-14.37B C$-12B
2021-07-30 03:00 PM May C$-15B
2021-07-30 03:00 PM Apr C$-31.44B C$-28B
2021-08-27 03:00 PM Jun
2021-09-24 03:00 PM Jul


News Stream
Canada Government Budget Deficit Widens in March
Canada's government budget deficit widened sharply to CAD 31.44 billion in March of 2021 from CAD 14.79 billion in the same month of the previous year, as Ottawa continued to spend heavily to fight the ongoing coronavirus pandemic. Revenues increased 33.8 percent to CAD 34.52 billion, driven by increases in tax and other revenues, while program expenses rose 69.0 percent to CAD 64.02 billion, again on COVID-19 related spending. Canada's budget deficit in fiscal 2020/21 widened to CAD 314 billion from a deficit of CAD 21.77 billion in the previous year.
2021-05-28
Canada Government Budget Swings to Deficit in February
Canada's government posted a CAD 14.4 billion budget deficit in February of 2021, compared to a CAD 3.6 billion surplus in the corresponding month of the previous year. Revenues decreased by CAD 3.0 billion, or 9.3 percent, driven by decreases in other revenues and tax revenues. Meanwhile, program expenses increased CAD 15 billion, or 58.1 percent, mostly due to increased transfers to businesses and individuals, businesses, and other levels of government as part of COVID-19 response measures. Public debt charges were down CAD 0.4 billion, or 24.2 percent, largely reflecting lower Consumer Price Index adjustments on Real Return Bonds, lower interest on Government of Canada treasury bills, and lower interest on pension and benefit obligations. Canada's budget deficit in the first eleven months of fiscal 2020/21 swelled to CAD 283 billion from a deficit of CAD 7.0 billion in the year-ago period.
2021-04-30
Canada Posts CAD 20 Billion Budget Gap in January
Canada's government posted a CAD 20 billion deficit in January of 2021, compared to a surplus of CAF 0.4 billion a year earlier, reflecting the severe deterioration in the economic situation and temporary measures implemented through the government's Economic Response Plan to support Canadians and businesses facing hardship as a result of the COVID-19 outbreak during this period. Revenues decreased by CAD 2.2 billion, or 7.4%, to CAD 28.1 billion driven by a decrease in other revenues; while program expenses excluding net actuarial losses were up CAD 17.8 billion, or 65.5%, to CAD 48.1 billion driven by increased transfers to businesses and individuals as part of the government's COVID-19 response measures. Public debt charges were down CAD 40 million, or 2.2%. For the April to January period of the 2020–21 fiscal year, the government posted a budgetary deficit of CAD 268.2 billion, compared to a deficit of CAD 10.6 billion reported for the same period of 2019–20.
2021-03-26
Canada Posts CAD 16.2 Billion Deficit in December
Canada's government posted a CAD 16.2 billion deficit in December 2020, compared to a surplus of CAD 0.8 billion in December 2019. Revenues decreased by CAD 0.7 billion, or 2.4 percent, driven by a decrease in other revenues; while program expenses excluding net actuarial losses were up CAD 15.9 billion, or 59.9 percent, driven by increased transfers to individuals and businesses as part of the government's COVID-19 response measures. Public debt charges were down CAD 0.1 billion, or 5.9 percent. For the April to December period of the 2020-21 fiscal year, the government posted a budgetary deficit of CAD 248.2 billion, compared to a deficit of CAD 11.0 billion reported for the same period of 2019-20.
2021-02-26

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.