Canada's federal budget deficit narrowed to CAD 0.31 billion in May 2026 from CAD 2.2 billion in the same month a year earlier. Revenues increased 12.6% year-on-year to CAD 41.94 billion, driven primarily by higher income and excise tax receipts. Meanwhile, program expenses, excluding net actuarial losses, rose 6.2% to CAD 36.68 billion, reflecting higher direct program spending and larger transfers to persons, partly offset by lower transfers to provinces, territories and municipalities. Public debt charges increased 12.7% to CAD 5.16 billion due to higher effective interest rates on a larger stock of marketable bonds. Net actuarial losses rose 23.9% to CAD 415 million, remaining unchanged from the previous month. The budgetary deficit before net actuarial losses was CAD 0.1 billion, compared to a deficit of CAD 1.86 billion in the same period a year earlier. source: Department Of Finance Canada

Canada recorded a government budget deficit of 313 CAD Million in May of 2026. Government Budget Value in Canada averaged -2086.29 CAD Million from 1985 until 2026, 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 August of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-31 03:00 PM
Budget Balance
Apr C$-1.05B C$-29.73B C$-8.0B
2026-07-31 03:00 PM
Budget Balance
May C$-0.31B C$-1.05B C$-6.4B
2026-08-28 03:00 PM
Budget Balance
Jun C$-1.05B C$2.0B


Related Last Previous Unit Reference
Fiscal Expenditure 36678.00 41753.00 CAD Million May 2026
Government Budget -1.20 -2.10 percent of GDP Dec 2024
Budget Balance -313.00 -1046.00 CAD Million May 2026
Government Debt 1266.48 1236.15 CAD Billion Dec 2025
Government Revenues 41936.00 45890.00 CAD Million May 2026


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
-313.00 -1046.00 9533.00 -44405.00 1985 - 2026 CAD Million Monthly
Current Prices, NSA

News Stream
Canada Budget Deficit Shrinks in May
Canada's federal budget deficit narrowed to CAD 0.31 billion in May 2026 from CAD 2.2 billion in the same month a year earlier. Revenues increased 12.6% year-on-year to CAD 41.94 billion, driven primarily by higher income and excise tax receipts. Meanwhile, program expenses, excluding net actuarial losses, rose 6.2% to CAD 36.68 billion, reflecting higher direct program spending and larger transfers to persons, partly offset by lower transfers to provinces, territories and municipalities. Public debt charges increased 12.7% to CAD 5.16 billion due to higher effective interest rates on a larger stock of marketable bonds. Net actuarial losses rose 23.9% to CAD 415 million, remaining unchanged from the previous month. The budgetary deficit before net actuarial losses was CAD 0.1 billion, compared to a deficit of CAD 1.86 billion in the same period a year earlier.
2026-07-31
Canada’s Budget Deficit Widens in March
Canada’s federal budget deficit expanded to CAD 29.7 billion in March 2026, up from CAD 23.9 billion in the same month a year earlier. The budgetary deficit before net actuarial losses, excluding the impact of amortizing pension and employee benefit plan revaluations, narrowed to CAD 20.6 billion from CAD 23.5 billion in March 2025. Net actuarial losses surged by 240.7%, primarily due to the accelerated amortization of losses from amendments to employee future benefit plans in 2025-26. Meanwhile, program expenses excluding actuarial losses fell by 1.9%, driven by lower direct costs following savings from benefit plan amendments announced in Budget 2025. Revenues increased by 1.1%, supported by higher personal and corporate income tax receipts, other revenues, and customs import duties tied to countermeasures against US tariffs.
2026-05-29
Canada Government Budget Surplus Shrinks in February
Canada's government recorded a federal budget surplus of CAD 5.66 billion in February 2026, a decrease compared with a surplus of CAD 7.57 billion a year earlier. Revenues decreased by 5.5%, reflecting lower corporate income tax revenue, despite gains in other revenue streams. Program expenses declined by 2.8% due to most major transfers to provinces, territories and municipalities being delayed. Public debt charges rose by 2.5%, as higher interest rates and an increased stock of marketable bonds were offset by lower interest rates on treasury bills. For the April 2025 to February 2026 period, the federal deficit eased to CAD 25.55 billion, while remaining higher than the CAD 19.27 billion deficit a year earlier.
2026-04-24