Canada's government posted a CAD 33.58 billion budget deficit in June 2020, compared to a CAD 1.33 billion surplus in the corresponding month of the previous year. Revenues declined by CAD 7.9 billion, or 28.5 percent, largely reflecting decreases in tax revenues and other revenues. Meanwhile, program expenses increased CAD 27.9 billion, or 114.4 percent, mostly due to increased transfers to individuals, businesses, and other levels of government as part of COVID-19 response measures. Public debt charges were down CAD 0.9 billion, or 41.3 percent, largely reflecting lower Consumer Price Index adjustments on Real Return Bonds.

Government Budget Value in Canada averaged -1225.10 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 September of 2020. source: Department Of Finance Canada

Government Budget Value in Canada is expected to be -17000.00 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 1000.00 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
-33580.00 -43932.00 5770.00 -43932.00 1985 - 2020 CAD Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-29 03:00 PM Mar C$-14.79B C$3.58B C$-10B
2020-07-31 03:00 PM Apr C$-42.84B C$-14.79B C$-16B
2020-07-31 03:00 PM May C$-43.93B C$-42.84B C$-15B
2020-08-28 03:00 PM Jun C$-33.58B C$-43.93B C$-44B
2020-09-25 03:00 PM Jul C$-33.58B C$-31B
2020-10-30 03:00 PM Aug
2020-11-27 04:00 PM Sep C$-17B
2020-12-18 04:00 PM Oct


News Stream
Canada Government Budget Swings to Deficit in June
Canada's government posted a CAD 33.58 billion budget deficit in June 2020, compared to a CAD 1.33 billion surplus in the corresponding month of the previous year. Revenues declined by CAD 7.9 billion, or 28.5 percent, largely reflecting decreases in tax revenues and other revenues. Meanwhile, program expenses increased CAD 27.9 billion, or 114.4 percent, mostly due to increased transfers to individuals, businesses, and other levels of government as part of COVID-19 response measures. Public debt charges were down CAD 0.9 billion, or 41.3 percent, largely reflecting lower Consumer Price Index adjustments on Real Return Bonds.
2020-08-28
Canada Posts Largest Budget Gap on Record
Canada's government posted a CAD 43.93 billion budget deficit in May 2020, compared to a CAD 0.71 billion surplus in the same month of the previous year. It was the largest government budget gap on record, reflecting the severe deterioration in the economic situation and temporary measures implemented through the government’s Economic Response Plan to support Canadians and businesses facing hardship as a result of the pandemic. For the first two months of the 2020-2021 fiscal year (April and May), there was budgetary shortfall of CAD 86.77 billion, compared to a CAD 1.4 billion deficit in the corresponding period of 2019-2020. Revenues plunged by CAD 24.1 billion, or 42.6%, due to decreases in tax revenues and other revenues. Program expenses jumped by CAD 62.4 billion, or 117.4%, reflecting transfers to businesses and individuals under the Economic Response Plan
2020-07-31
Canada Budget Deficit Narrows in March
Canada's government budget deficit narrowed slightly to CAD 14.79 billion in March of 2020 from CAD 14.90 billion in the corresponding month of the previous year. Revenues decreased by CAD 2.0 billion, or 7.2 percent, reflecting decreases in tax revenues and other revenues. Program expenses decreased by CAD 2.7 billion, or 6.6 percent, primarily reflecting lower direct program expenses. Public debt charges increased by CAD 0.6 billion, or 28.9 percent, largely reflecting expenses from multiple bond buyback operations held in March 2020, which did not occur in March 2019, as well as higher Consumer Price Index adjustments on Real Return Bonds.
2020-05-29
Canada Budget Surplus Narrows in February
Canada's government budget surplus narrowed to CAD 3.58 billion in February 2020 from CAD 4.31 billion in the corresponding month of the previous year. Revenues went up by CAD 0.1 billion, or 0.4 percent, to CAD 32.16 billion, while program expenses rose by CAD 0.9 billion, or 3.3 percent, to CAD 26.76 billion primarily reflecting increases in major transfers to persons and direct program expenses. Public debt charges dropped by CAD 7 million, or 0.4 percent, to CAD 1.82 billion.
2020-04-24

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.