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.

Related Last Previous Unit Reference
Fiscal Expenditure 38529.00 36061.00 CAD Million Jan 2024
Government Budget -1.30 -3.60 percent of GDP Dec 2022
Budget Balance -2059.00 -4472.00 CAD Million Jan 2024
Government Debt 1173.01 1139.98 CAD Billion Dec 2023
Government Revenues 41239.00 36258.00 CAD Million Jan 2024

Canada Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
Actual Previous Highest Lowest Dates Unit Frequency
-1.30 -3.60 5.10 -14.80 1949 - 2022 percent of GDP Yearly