Canada recorded a Government Budget deficit equal to 1.20 percent of the country's Gross Domestic Product in 2024. Government Budget in Canada averaged -1.96 percent of GDP from 1949 until 2024, reaching an all time high of 5.10 percent of GDP in 1950 and a record low of -14.80 percent of GDP in 2020. source: Department of Finance Canada

Government Budget in Canada is expected to reach -2.30 percent of GDP by the end of 2026, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Government Budget is projected to trend around -1.90 percent of GDP in 2027 and -1.60 percent of GDP in 2028, according to our econometric models.



Related Last Previous Unit Reference
Fiscal Expenditure 38449.00 41565.00 CAD Million Feb 2026
Government Budget -1.20 -2.10 percent of GDP Dec 2024
Budget Balance 5660.00 -5070.00 CAD Million Feb 2026
Government Debt 1223.62 1173.01 CAD Billion Dec 2024
Government Revenues 48415.00 41470.00 CAD Million Feb 2026


Canada Government Budget
The Government Budget to GDP ratio is an itemized accounting of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
Actual Previous Highest Lowest Dates Unit Frequency
-1.20 -2.10 5.10 -14.80 1949 - 2024 percent of GDP Yearly