Canadian general government posts a deficit
In the third quarter, the Canadian general government recorded a deficit of $4.8 billion, compared with a surplus of $4.1 billion in the third quarter of 2023. The federal government posted a deficit of $5.6 billion in the third quarter of 2024, a level similar to that from one year earlier ($5.4 billion). Meanwhile, provincial and territorial governments recorded a deficit of $4.7 billion, following a $1.3 billion surplus in the third quarter of 2023.
As a percentage of nominal gross domestic product (GDP), the federal government deficit was 0.7% in the third quarter of 2024, the same ratio as that observed in the third quarter the previous year. Provincial and territorial governments reported having a deficit equivalent to 0.6% of GDP, while they had recorded a 0.2% surplus one year earlier.
Contact information
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