Canada Government Budget Value

Last Release

May 31, 2025

Actual

-228

Units In

CAD Million

-23,880

Frequency

Monthly

Next Release

Aug 29, 2025

Time to Release

1 Months 3 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
9,530 Feb 2023	-44,410 Mar 2023	-2,046.61 CAD Million	1985-2025	N/A

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.

Latest Updates

Canada’s government posted a budget deficit of CAD 0.23 billion in May 2025, compared with a surplus of CAD 1.172 billion in May 2024. This shift largely reflected a CAD 26 million (0.0%) increase in revenues, where higher customs import duties and pollution pricing proceeds were offset by declines in corporate income tax and Goods and Services Tax collections. Program expenses, excluding net actuarial losses, rose by CAD 2.6 billion (8.3%), driven by increases across most major spending categories. Public debt charges fell by CAD 0.2 billion (5.0%) as lower interest rates on treasury bills outweighed higher Consumer Price Index adjustments on Real Return Bonds. For the first two months of fiscal year 2025–26 (April to May), the federal budget deficit stood at CAD 5.8 billion, compared to CAD 2.6 billion in the same period of 2024–25.