Canada recorded a Government Budget deficit equal to 1.30 percent of the country's Gross Domestic Product in 2022. Government Budget in Canada averaged -1.97 percent of GDP from 1949 until 2022, reaching an all time high of 5.10 percent of GDP in 1950 and a record low of -14.80 percent of GDP in 2020. source: Department of Finance Canada
Government Budget in Canada is expected to reach -0.90 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Government Budget is projected to trend around -0.50 percent of GDP in 2025, according to our econometric models.