Canada’s government budget deficit narrowed to CAD 11,980 billion in July of 2021 from CAD 28,228 billion in the same month of the previous year. Revenues increased by 35.9 percent to CAD 29.3 billion, driven by a 24.1 percent increase in tax revenues to CAD 24.9 billion. At the same time, expenses were reduced by 19 percent to 38 billion, driven by a 29.4 percent reduction in direct program expenses to CAD 16.7 billion and a 11.1 percent decrease in major transfers to persons to CAD 14.9 billion. Canada’s budget deficit in the first quarter of fiscal 2021/2022 narrowed to CAD 48.5 billion from to CAD 148.6 billion in the same period of 2020/2021. source: Department Of Finance Canada

Government Budget Value in Canada averaged -1793.82 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 October of 2021.

Government Budget Value in Canada is expected to be -10800.00 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 -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


Calendar GMT Actual Previous Consensus TEForecast
2021-07-30 03:00 PM Apr C$-9.78B C$-31.44B C$-28B
2021-07-30 03:00 PM May C$-13.98B C$-9.78B C$-15B
2021-08-27 03:00 PM Jun C$-12.71B C$-13.98B C$-12B
2021-09-24 03:00 PM Jul C$-11.98B C$-28.23B C$-12B
2021-10-29 03:00 PM Aug C$-11.98B
2021-11-26 04:00 PM Sep
2021-12-17 04:00 PM Oct
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Canada Government Budget Deficit Narrows in July
Canada’s government budget deficit narrowed to CAD 11,980 billion in July of 2021 from CAD 28,228 billion in the same month of the previous year. Revenues increased by 35.9 percent to CAD 29.3 billion, driven by a 24.1 percent increase in tax revenues to CAD 24.9 billion. At the same time, expenses were reduced by 19 percent to 38 billion, driven by a 29.4 percent reduction in direct program expenses to CAD 16.7 billion and a 11.1 percent decrease in major transfers to persons to CAD 14.9 billion. Canada’s budget deficit in the first quarter of fiscal 2021/2022 narrowed to CAD 48.5 billion from to CAD 148.6 billion in the same period of 2020/2021.
2021-09-24
Canada Government Budget Deficit Narrows in June
Canada's government budget deficit narrowed to CAD 12.71 billion in June of 2021 from CAD 33.58 billion in the same month of the previous year. Revenues increased by 48.8 percent to CAD 29.6 billion, driven by a 33.4 percent increase in tax revenues to CAD 24.8 billion. Program expenses were reduced by 23.7 percent to CAD 39.1 billion, driven by a 23.5 percent reduction in transfers to persons to CAD 15.1 billion and a 39.4 percent reduction in intra-government transfers to CAD 6.5 billion. Canada’s budget deficit in fiscal 2021/22 narrowed to CAD 36.5 billion, compared to a deficit of CAD 120.4 billion from the same period in the previous fiscal year.
2021-08-27
Canada Government Budget Deficit Narrows in May
Canada's government budget deficit narrowed sharply to CAD 13.98 billion in May of 2021 from CAD 43.93 billion in the same month of the previous year. For the first two months of the 2021-22 fiscal year, there was a budgetary deficit of CAD 23.8 billion, compared to a deficit of CAD 86.8 billion reported in the same period of 2020-21, when COVID-19 hit a peak.
2021-07-30
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 Last Unit Reference Previous Highest Lowest
Government Budget -15.90 percent of GDP Dec/20 -1.50 5.10 -15.90
Government Budget Value -11980.00 CAD Million Jul/21 -12710.00 5770.00 -43932.00
Government Revenues 29333.00 CAD Million Jul/21 29626.00 34517.00 3384.00
Fiscal Expenditure 39319.00 CAD Million Jul/21 40426.00 64021.00 5565.00
Government Debt 721.36 CAD Billion Dec/20 685.45 721.36 14.83


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.