Canada’s government posted a budget deficit of CAD 8.0 billion in November 2025, compared with a deficit of CAD 8.2 billion in November 2024. This shift reflected a CAD 0.4 billion decrease in revenues, driven by lower pollution pricing and GST, while income tax provided partial offsets. Program expenses, excluding net actuarial losses, fell by CAD 1.1 billion, reflecting lower pollution pricing proceeds returned and lower direct program expenses, partly offset by higher major transfers to persons and provinces. Public debt charges rose CAD 0.4 billion as higher CPI adjustments on Real Return Bonds and higher average interest rates on marketable bonds outweighed lower rates on treasury bills. For the April to November 2025–26 window, the federal deficit reached CAD 26.4 billion, up from CAD 22.7 billion in the same period a year earlier. source: Department Of Finance Canada

Canada recorded a government budget deficit of 8020 CAD Million in November of 2025. Government Budget Value in Canada averaged -2042.99 CAD Million from 1985 until 2025, 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 February of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-23 04:00 PM
Budget Balance
Oct C$-2.28B C$-5.02B C$-3.52B
2026-01-30 04:00 PM
Budget Balance
Nov C$-8.02B C$-2.28B C$-4.2B
2026-02-27 04:00 PM
Budget Balance
Dec C$-8.02B C$-1.3B


Related Last Previous Unit Reference
Fiscal Expenditure 40722.00 39036.00 CAD Million Nov 2025
Government Budget -1.20 -2.10 percent of GDP Dec 2024
Budget Balance -8020.00 -2280.00 CAD Million Nov 2025
Government Debt 1223.62 1173.01 CAD Billion Dec 2024
Government Revenues 37476.00 41543.00 CAD Million Nov 2025


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
-8020.00 -2280.00 9533.00 -44405.00 1985 - 2025 CAD Million Monthly
Current Prices, NSA

News Stream
Canada Government Budget Deficit Shrinks Marginally in November
Canada’s government posted a budget deficit of CAD 8.0 billion in November 2025, compared with a deficit of CAD 8.2 billion in November 2024. This shift reflected a CAD 0.4 billion decrease in revenues, driven by lower pollution pricing and GST, while income tax provided partial offsets. Program expenses, excluding net actuarial losses, fell by CAD 1.1 billion, reflecting lower pollution pricing proceeds returned and lower direct program expenses, partly offset by higher major transfers to persons and provinces. Public debt charges rose CAD 0.4 billion as higher CPI adjustments on Real Return Bonds and higher average interest rates on marketable bonds outweighed lower rates on treasury bills. For the April to November 2025–26 window, the federal deficit reached CAD 26.4 billion, up from CAD 22.7 billion in the same period a year earlier.
2026-02-20
Canada Government Budget Deficit Widens in September
Canada’s government posted a budget deficit of CAD 5.0 billion in September 2025, compared with a deficit of CAD 3.2 billion in September 2024. This shift largely reflected a CAD 0.9 billion (2.5%) increase in revenues, driven by higher corporate and personal income tax and customs import duties, while pollution pricing fell by CAD 0.9 billion following the cessation of the federal fuel charge. Program expenses, excluding net actuarial losses and gains, rose by CAD 1.6 billion (4.6%), reflecting higher direct program expenses, major transfers to persons, and transfers to provinces, territories, and municipalities. Public debt charges fell CAD 0.4 billion or 8.3% as lower rates on treasury bills and reduced interest on pension obligations outweighed higher average rates on a larger stock of marketable bonds. For the April to September 2025–26 window the federal deficit reached CAD 16.1 billion, up from CAD 13.0 billion in the same period a year earlier.
2025-11-28
Canada Government Budget Deficit Widens in August
Canada’s government posted a budget deficit of CAD 3.28 billion in August 2025, compared with a deficit of CAD 2.5 billion in August 2024. This shift largely reflected a CAD 2.3 billion (6.5%) increase in revenues, driven by higher corporate and personal income tax and customs import duties, while pollution pricing fell by CAD 0.9 billion following the cessation of the federal fuel charge. Program expenses, excluding net actuarial losses, rose by CAD 3.0 billion (9.1%), reflecting higher direct program expenses, major transfers to persons, and transfers to provinces, territories, and municipalities. Public debt charges fell by CAD 0.1 billion (1.5%) as lower interest rates on treasury bills and reduced net interest on cross-currency swaps were largely offset by higher average effective rates on an increased stock of marketable bonds; for the April–August 2025–26 period, the federal budget deficit stood at CAD 11.1 billion, compared to CAD 9.8 billion in the same period of 2024–25.
2025-10-31