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The Canadian federal budget for the fiscal years of 2023–24 was presented to the House of Commons by Finance Minister Chrystia Freeland on 28 March 2023. [2] The budget was meant to reflect Prime Minister Justin Trudeau's stated policy objective to "make life more affordable for Canadians" [3] while also reducing government expenditures.
2020 Canadian federal budget: 2020–21 — Never presented Postponed and combined into the following year's budget due to the COVID-19 pandemic: 2021 Canadian federal budget A Recovery Plan for Jobs, Growth, and Resilience: 2021–22 19 April 2021 Chrystia Freeland Liberal: C-30: Royal Assent (29 June 2021)
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
OTTAWA, Nov 29 (Reuters) - Canada's budget deficit for the first six months of the 2024-25 fiscal year jumped by more than a half to C$13.01 billion ($9.28 billion) as program expenses and debt ...
During 2020, the first year of the historic COVID-19 pandemic, the sum of all government liabilities (gross debt) reached $2,852 billion (129.2% as a ratio of GDP). [5] The consolidated general government (federal, provincial, territorial and local governments) posted an "historic deficit" of $325.5 billion to provide relief.
The deficit is seen narrowing to C$33.1 billion ($26.4 billion) in 2021-22, matching a November projection, but lower than the record C$38.5 billion deficit forecast for 2020-21, a budget document ...
The Ontario Financing Authority, which manages the provinces' debt, says that as of March 31, 2020 (for the 2019-20 fiscal year), the Ontario government's net debt is CDN $353.3 billion. [3] Net debt is projected to rise to $398 billion in 2020-21. The Debt-to-GDP ratio for 2019-2020 was 39.7%, and is projected to rise to 47.1% in 2020-21. [6]
The COVID-19 pandemic had forced the Justin Trudeau government to introduce a large number of federal aid programs to deal with the economic impact of the crisis.As a result, Canada's debt-to-GDP ratio increased in 2020 and 2021.