Canada's government budget deficit widened to CAD 1.11 billion in October 2018 from CAD 0.39 billion in the same period of the previous year. Revenues increased by CAD 1.4 billion, or 5.5 percent, reflecting increases in tax revenues, Employment Insurance (EI) premium revenues and other revenues. Program expenses increased by CAD 2.1 billion, or 8.7 percent, largely due to increases in major transfers to other levels of government and direct program expenses. Public debt charges increased by CAD 32 million, or 1.7 percent. Government Budget Value in Canada averaged -982.04 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 -312.00 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 1029.00 in 12 months time. In the long-term, the Canada Government Budget Value is projected to trend around -312.00 CAD Million in 2020, according to our econometric models.