Slide Deck D: 2017 Federal Budget Projections

The Federal Government’s Budget Every February or March, the federal government releases its budget for the next year. The 2017 Budget was presented on March 22, 2017. Every year the federal government also releases an update on the budget numbers in the fall. The Government of Canada’s Fall Economic Statement was released on October 24, 2017.

2017 Expenditures The 2017 federal budget projected expenditures for 2017-2018 to be $330.2 billion. In the fall economic statement, the projected expenditures were decreased to $329.1 billion.

2017 Revenue The federal budget projected the amount of revenue for 2017-2018 to be $304.7 billion. In the fall economic statement, revenue projections were increased to $310.7 billion.

Surplus or Deficit? Based on the project 2017 revenues and expenditures, will the Government of Canada have a surplus or a deficit?

The deficit and our debt In the March 2017 budget, the federal government was projecting a deficit of $28.5 billion for this fiscal year. In the fall economic statement, the deficit was decreased to $19.9 billion. To cover this gap, the federal government will borrow money and this amount will be added to the government’s debt. The federal government’s debt is currently estimated to be $652.8 billion.

Breakdown of Expenditures

Breakdown of Revenue Sources