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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.
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 payment costs rose faster ...
Canada's most populous province and industrial powerhouse is projected to run a deficit of C$10.3 billion ($7.7 billion) in fiscal 2019-20, which began on April 1, including a C$1 billion reserve. ...
As of March 2022, Canada's DBRS AAA credit rating was maintained in response to expectations of the decline in the federal fiscal deficit 14.6% of GDP in FY 2020–2021 to 2.2% in FY 2022–2023. [ 8 ]
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 ...
This was later refined to $39.4 billion when the Annual Financial Report of the Government of Canada for Fiscal Year 2019–2020 was released. [2] The projected deficit of $19.8 billion would result in a deficit of ca. 0.9% of GDP. At the same time the GDP grew by 1.6% in 2019. [5]