Canada Government Budget

Canada reported a Government Budget deficit equal to 1.50 percent of the country's Gross Domestic Product in 2011. Historically, from 1948 until 2011, Canada Government Budget averaged -1.9 Percent of GDP reaching an all time high of 5.1 Percent of GDP in December of 1949 and a record low of -8.3 Percent of GDP in December of 1984. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page includes a chart with historical data for Canada Government Budget.

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Government Budget
A government budget is a legal document that is often passed by the legislature, and approved by the chief executive-or president. For example, only certain types of revenue may be imposed and collected. Property tax is frequently the basis for municipal and county revenues, while sales tax and/or income tax are the basis for state revenues, and income tax and corporate tax are the basis for national revenues. The two basic elements of any budget are the revenues and expenses. In the case of the government, revenues are derived primarily from taxes. Government expenses include spending on current goods and services, which economists call government consumption; government investment expenditures such as infrastructure investment or research expenditure; and transfer payments like unemployment or retirement benefits. Budgets have an economic, political and technical basis. Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. They also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. The technical element is the forecast of the likely levels of revenues and expenses.

CANADA NEWS

Canada's Unemployment Rate Up to 7.3% in April
Published: 5/11/2012 1:39:49 PM By: TradingEconomics.com, Statistics Canada
Canada's employment increased by 58,000 in April, mostly in full-time work. This was the second consecutive month of notable gains after four months of little change. With more people searching for work, the unemployment rate increased by 0.1 percentage points to 7.3%.

Canada's Trade Surplus Widens in March
Published: 5/10/2012 1:50:11 PM By: TradingEconomics.com, Statistics Canada
Canada's merchandise exports edged down 0.4% and imports decreased 0.6%. As a result, Canada's trade surplus increased from $273 million in February to $351 million in March.

Bank of Canada Keeps Overnight Rate at 1%
Published: 4/18/2012 11:47:59 AM By: Bnak of Canada
The Bank of Canada announced on April 17th that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Canada's Trade Surplus Narrows in February
Published: 4/12/2012 1:45:02 PM By: TradingEconomics.com, Statistics Canada
Canada's merchandise exports declined 3.9% and imports edged up 0.2%. As a result, Canada's trade surplus decreased from $1.9 billion in January to $292 million in February.

Canada's Unemployment Down to 7.2% in March
Published: 4/5/2012 3:46:43 PM By: TradingEconomics.com, Statistics Canada
Following four months of little change, employment increased by 82,000 in March, mostly in full-time work. This brought the unemployment rate down 0.2 percentage points to 7.2%.

Canada's Inflation Rate Up to 2.6% in February
Published: 3/23/2012 11:23:31 AM By: TradingEconomics.com, Statistics Canada
Led by increases in energy and food, consumer prices rose 2.6% in the 12 months to February after increasing 2.5% in January.

Canada's Trade Surplus Narrows in January
Published: 3/9/2012 2:03:30 PM By: TradingEconomics.com, Statistics Canada
Canada's merchandise exports declined 2.3% and imports edged down 0.6%. As a result, Canada's trade surplus narrowed from $2.9 billion in December 2011 to $2.1 billion in January 2012. This was the third consecutive monthly trade surplus.

Canada's Unemployment Rate Down to 7.4% in February
Published: 3/9/2012 12:21:06 PM By: TradingEconomics.com, Statistics Canada
A decline in the number of people searching for work pushed the unemployment rate down 0.2 percentage points to 7.4%. Compared with 12 months earlier, employment was up by 121,000 (+0.7%), with the bulk of the increase occurring in the first half of the period.

Bank of Canada Keeps Overnight Rate Target at 1%
Published: 3/8/2012 3:04:55 PM By: TradingEconomics.com, Bank of Canada
The Bank of Canada announced on March 8th that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Canada's Economy Expands 0.4% in Q4
Published: 3/2/2012 2:04:19 PM By: TradingEconomics.com, Statistics Canada
Real gross domestic product (GDP) rose 0.4% in the fourth quarter, after advancing 1.0% in the third quarter. Consumer spending and exports contributed the most to fourth-quarter GDP growth. Final domestic demand grew 0.5%.

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