Canada's government budget deficit narrowed to CAD 2.22 billion in November 2018 from CAD 2.88 billion in the same month of the previous year. Revenues increased by CAD 2.4 billion, or 10.5 percent, reflecting gains in tax revenues, Employment Insurance (EI) premium revenues and other revenues. Program expenses rose by CAD 1.9 billion, or 7.9 percent, due to increases in major transfers to persons and other levels of government and direct program expenses. Public debt charges dropped by CAD 0.2 billion, or 8.3 percent, largely reflecting lower Consumer Price Index adjustments for the month of November. Government Budget Value in Canada averaged -985.73 CAD Million from 1985 until 2018, reaching an all time high of 5770 CAD Million in February of 2005 and a record low of -10629 CAD Million in March of 2018.
Government Budget Value in Canada is expected to be 1147.00 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 -312.00 in 12 months time. In the long-term, the Canada Government Budget Value is projected to trend around 1036.00 CAD Million in 2020, according to our econometric models.