Canada’s federal deficit narrowed sharply to C$223 million in August 2026, down from C$3.28 billion a year earlier, marking its smallest shortfall since June 2017. Revenues rose 7.1% to C$40.07 billion, largely driven by higher income tax and GST receipts. Program expenses, excluding net actuarial losses and gains, increased 3.1% to C$36.98 billion, mainly reflecting higher major transfers to individuals. Public debt charges climbed 16.1% to C$5.12 billion, driven by an actuarial adjustment to pension and employee benefit obligations and higher interest on marketable bonds, partly offset by lower CPI adjustments on Real Return Bonds. Meanwhile, the government recorded net actuarial gains of C$1.8 billion, compared with losses of C$0.7 billion a year earlier, reflecting updated valuations of pension and employee benefit plans. source: Department Of Finance Canada

Canada recorded a government budget deficit of 223 CAD Million in August of 2026. Government Budget Value in Canada averaged -2081.75 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 November of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-25 03:00 PM
Budget Balance
Jul C$-4.77B C$0.99B C$-2.4B
2026-10-30 03:15 PM
Budget Balance
Aug C$-0.22B C$-4.77B C$-4.9B
2026-11-27 03:00 PM
Budget Balance
Sep C$-0.22B


Related Last Previous Unit Reference
Fiscal Expenditure 36983.00 41807.00 CAD Million Aug 2026
Government Budget -1.20 -2.10 percent of GDP Dec 2024
Budget Balance -223.00 -4768.00 CAD Million Aug 2026
Government Debt 1266.48 1236.15 CAD Billion Dec 2025
Government Revenues 40069.00 42825.00 CAD Million Aug 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
-223.00 -4768.00 9533.00 -44405.00 1985 - 2026 CAD Million Monthly
Current Prices, NSA

News Stream
Canada Budget Shortfall Narrows Sharply in August
Canada’s federal deficit narrowed sharply to C$223 million in August 2026, down from C$3.28 billion a year earlier, marking its smallest shortfall since June 2017. Revenues rose 7.1% to C$40.07 billion, largely driven by higher income tax and GST receipts. Program expenses, excluding net actuarial losses and gains, increased 3.1% to C$36.98 billion, mainly reflecting higher major transfers to individuals. Public debt charges climbed 16.1% to C$5.12 billion, driven by an actuarial adjustment to pension and employee benefit obligations and higher interest on marketable bonds, partly offset by lower CPI adjustments on Real Return Bonds. Meanwhile, the government recorded net actuarial gains of C$1.8 billion, compared with losses of C$0.7 billion a year earlier, reflecting updated valuations of pension and employee benefit plans.
2026-10-30
Canada Budget Deficit Widens in July
Canada’s federal deficit widened to C$4.77 billion in July 2026 from C$1.51 billion a year earlier, as fiscal expenditures increased. Program expenses, excluding net actuarial losses, rose 5.1% to C$41.81 billion, largely due to higher direct program expenses and major transfers to persons, partly offset by lower pollution pricing proceeds returned to Canadians. Public debt charges also increased 7.4% to C$5.4 billion, reflecting higher average effective interest rates on a larger stock of marketable bonds. Net actuarial losses rose 23.9% to C$415 million. Meanwhile, revenues rose 7.4% to C$42.8 billion, largely reflecting higher personal income tax revenues, partly offset by lower customs import duties, energy tax revenues and corporate income tax revenues.
2026-09-25
Canada Budget Surplus Narrows in June
Canada’s federal surplus narrowed to C$1.0 billion in June 2026 from C$3.6 billion a year earlier, on higher program expenses and public debt charges and broadly stable revenues. Program expenses excluding net actuarial losses increased by C$2.1 billion, largely due to higher direct program spending, while public debt charges rose C$0.5 billion amid a larger stock of marketable bonds and higher CPI adjustments on Real Return Bonds. Net actuarial losses increased by C$0.1 billion. Revenues were up C$10 million to C$1.6 billion, as higher employment insurance premiums and other revenues offset a C$1.6 billion decline in tax revenues, mainly due to lower corporate income tax receipts.
2026-08-28