Canada projects C$62B deficit for 2026-27 amid supply disruptions

Canada’s federal government has projected a C$62.3 billion deficit for the 2026-27 fiscal year. The figure was released amid ongoing global supply disruptions, aligning with scenarios considered by the Canadian government rather than its primary spring projection. This projection is slightly lower than earlier estimates provided by the Parliamentary Budget Officer and the federal government’s spring update, which suggested deficits of C$63.3 billion and C$65.3 billion, respectively. Despite the lower-than-expected figure, the persistent high deficit may influence fiscal policy discussions in the coming months. The Bank of Canada’s upcoming interest rate decision in December will be closely monitored, with current market pricing indicating a 64% likelihood of no rate change.

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