Canada Valeur des budgets du gouvernement

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.