Canada recorded a Government Budget deficit equal to 1.20 percent of the country's Gross Domestic Product in 2024. Government Budget in Canada averaged -1.96 percent of GDP from 1949 until 2024, 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 -2.50 percent of GDP by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Government Budget is projected to trend around -2.30 percent of GDP in 2026 and -1.90 percent of GDP in 2027, according to our econometric models.