Canada's government budget surplus narrowed to CAD 2.55 billion in August 2024, down from CAD 3.05 billion in the same month of the previous year. During the first five months of the 2024/25 fiscal year (April-August), the country recorded a deficit of CAD 9.84 billion, a significant increase from the CAD 4.29 billion surplus reported in the same period a year earlier. Program expenses surged by 11%, excluding net actuarial losses, while public debt charges soared by 23.1% due to higher interest rates. Conversely, government revenues grew by 9.3%, driven by increases across all major revenue categories. source: Department Of Finance Canada

Canada recorded a government budget deficit of 2550 CAD Million in August of 2024. Government Budget Value in Canada averaged -1987.63 CAD Million from 1985 until 2024, reaching an all time high of 9533.00 CAD Million in February of 2023 and a record low of -44405.00 CAD Million in March of 2023. 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 November of 2024.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-09-27 03:00 PM
Budget Balance
Jul C$-4.4B C$0.94B C$-0.3B
2024-10-25 03:00 PM
Budget Balance
Aug C$-2.55B C$-4.4B C$-3.5B
2024-11-29 04:00 PM
Budget Balance
Sep C$-2.55B C$-1.82B


Related Last Previous Unit Reference
Fiscal Expenditure 32881.00 44230.00 CAD Million Aug 2024
Government Budget -1.40 -1.30 percent of GDP Dec 2023
Budget Balance -2550.00 -4400.00 CAD Million Aug 2024
Government Debt 1173.01 1139.98 CAD Billion Dec 2023
Government Revenues 35439.00 40448.00 CAD Million Aug 2024

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.
Actual Previous Highest Lowest Dates Unit Frequency
-2550.00 -4400.00 9533.00 -44405.00 1985 - 2024 CAD Million Monthly
Current Prices, NSA


News Stream
Canada Government Budget Surplus Shrinks in August
Canada's government budget surplus narrowed to CAD 2.55 billion in August 2024, down from CAD 3.05 billion in the same month of the previous year. During the first five months of the 2024/25 fiscal year (April-August), the country recorded a deficit of CAD 9.84 billion, a significant increase from the CAD 4.29 billion surplus reported in the same period a year earlier. Program expenses surged by 11%, excluding net actuarial losses, while public debt charges soared by 23.1% due to higher interest rates. Conversely, government revenues grew by 9.3%, driven by increases across all major revenue categories.
2024-10-25
Canada Government Budget Gap Narrows in July
Canada's government budget deficit narrowed to CAD 4.4 billion in July 2024, down from CAD 4.86 billion in the same month last year. For the first four months of the 2024/25 fiscal year (April–July), the deficit stood at CAD 3.8 billion, a slight improvement from the CAD 4.0 billion deficit in the same period a year prior. Program expenses rose by 10.7%, excluding net actuarial losses, while public debt charges increased by 26.1% attributed to higher interest rates. Meanwhile, government revenues surged by 14.3%, with Increases across all revenue categories.
2024-09-27
Canada Government Budget Surplus Shrinks in June
Canada's government budget surplus narrowed to CAD 0.94 billion in June 2024, down from CAD 2.11 billion in the same month of the previous year. During the first three months of the 2024/25 fiscal year (April-June), the country recorded a deficit of CAD 1.6 billion, a significant shift from the CAD 2.9 billion surplus reported in the same period a year earlier. Program expenses surged by 12.1%, excluding net actuarial losses, while public debt charges rose by 22.2% due to higher interest rates. Conversely, government revenues grew by 8.5%, driven by increases in personal income tax revenue, goods and services tax, and other non-tax revenues.
2024-08-30