Canada's government budget deficit widened sharply to CAD 18.51 billion in October of 2020 from CAD 3.25 billion in the same month of the previous year, reflecting the economic downturn 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. Revenues decreased by CAD 1.4 billion, or 5.5 percent to CAD 24.07 billion, reflecting decreases in tax revenues and other revenues. Program expenses excluding net actuarial losses were up CAD 13.7 billion, or 52.5 percent to CAD 39.71 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 0.2 billion, or 11.6 percent to CAD 1.58 billion, largely reflecting lower interest on Government of Canada treasury bills and on the government's pension and other employee future benefit obligations. source: Department Of Finance Canada

Government Budget Value in Canada averaged -1513.97 CAD Million from 1985 until 2020, 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 January of 2021.

Government Budget Value in Canada is expected to be -25500.00 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 1100.00 in 12 months time. In the long-term, the Canada Government Budget Value is projected to trend around 1300.00 CAD Million in 2021 and 1500.00 CAD Million in 2022, according to our econometric models.

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Canada Government Budget Value

Actual Previous Highest Lowest Dates Unit Frequency
-18506.00 -27593.00 5770.00 -43932.00 1985 - 2020 CAD Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-09-25 03:00 PM Jul C$-28.23B C$-33.58B C$-31B
2020-10-30 03:00 PM Aug C$-21.94B C$-28.23B C$-25B
2020-11-30 09:00 PM Sep C$-27.60B C$-21.94B C$-17B
2020-12-18 04:00 PM Oct C$-18.51B C$-27.59B C$-28.4B
2021-01-29 04:00 PM Nov C$-18.51B
2021-02-26 04:00 PM Dec
2021-03-26 03:00 PM Jan
2021-04-30 03:00 PM Feb


News Stream
Canada Government Budget Deficit Widens Sharply
Canada's government budget deficit widened sharply to CAD 18.51 billion in October of 2020 from CAD 3.25 billion in the same month of the previous year, reflecting the economic downturn 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. Revenues decreased by CAD 1.4 billion, or 5.5 percent to CAD 24.07 billion, reflecting decreases in tax revenues and other revenues. Meanwhile, program expenses excluding net actuarial losses were up CAD 13.7 billion, or 52.5 percent to CAD 39.71 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 0.2 billion, or 11.6 percent to CAD 1.58 billion, largely reflecting lower interest on Government of Canada treasury bills and on the government's pension and other employee future benefit obligations.
2020-12-18
Canada Government Budget Deficit Widens Sharply
Canada's government budget deficit widened sharply to CAD 27.60 billion in November of 2020 from CAD 0.60 billion in the same month of the previous year, reflecting the economic downturn and measures implemented by the government to support the economic recovery.
2020-11-30
Canada Government Budget Deficit Widens Sharply in August
Canada's government budget deficit widened sharply to CAD 21.94 billion in August of 2020 from CAD 3.67 billion in the same month of the previous year, reflecting the economic downturn and temporary measures implemented through the government’s Economic Response Plan to support Canadians and businesses facing hardship as a result of the coronavirus pandemic. Revenues declined by CAD 1.3 billion, or 5.4 percent to CAD 23.26 billion, due to decreases in other revenues. Meanwhile, program expenses soared by CAD 16.3 billion, or 61.4 percent to CAD 42.92 billion, driven by increased transfers to individuals, businesses, and other levels of government as part of COVID-19 response measures. Public debt charges rose CAD 0.6 billion, or 35.6 percent to CAD 2.28 billion, reflecting higher Consumer Price Index adjustments on Real Return Bonds.
2020-10-30
Canada Budget Deficit Widens Sharply in July
Canada's government budget deficit widened sharply to CAD 28.23 billion in July of 2020 from CAD 1.47 billion in the corresponding month of the previous year, reflecting the economic downturn and temporary measures implemented through the government’s Economic Response Plan to support Canadians and businesses facing hardship as a result of the coronavirus pandemic. Revenues dropped by CAD 6.3 billion, or 22.5 percent to CAD 21.59 billion, due to decreases in tax revenues and other revenues. Meanwhile, program expenses jumped by CAD 20.8 billion, or 76.9 percent to CAD 47.85 billion, driven by increased transfers to individuals, businesses, and other levels of government as part of COVID-19 response measures. Public debt charges were down CAD 0.3 billion, or 13.1 percent to CAD 1.97 billion, reflecting in part lower Consumer Price Index adjustments on Real Return Bonds.
2020-09-25

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.