US EditionBudget watchdog forecasts sharp rise in deficit to $68.5B this year
- The Parliamentary Budget Officer published updated fiscal outlooks on September 24, 2025, forecasting Ottawa's deficit rising to $68.5 billion this year.
- This rise follows a weakened economy partly due to a trade war with the United States, which has reduced Ottawa's tax revenue and increased deficits.
- The report includes $115.1 billion in new spending announced since last December but excludes planned defence spending increases and public service cuts.
- Interim PBO Jason Jacques stated the federal debt-to-GDP ratio is no longer declining, and the fall budget on November 4 may reveal further fiscal challenges.
- The rising deficit and stalled debt ratio suggest Ottawa faces medium-term fiscal pressures despite planned spending adjustments and capital expenditure increases.
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Budget watchdog forecasts sharp rise in deficit to $68.5B this year (Canada)
The parliamentary budget officer says he expects the upcoming fall budget will reveal a sharp increase in Ottawa's annual deficit to $68.5 billion this year, up from $51.7 billion last year. Interim PBO Jason Jacques also says in a new report that federal debt-to-GDP is no longer on a declining path...
Next Federal Budget: Dpb Is Concerned that the Debt-to-Gdp Ratio Will Not Decline in the Medium Term
The federal debt-to-gross domestic product (GDP) ratio, a key indicator of the Liberals under Justin Trudeau, is not going down under Mark Carney, according to projections from the Parliamentary Budget Officer revealed on Thursday.
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Budget watchdog forecasts sharp rise in deficit to $68.5B this year
OTTAWA — The parliamentary budget officer says he expects the upcoming fall budget will reveal a sharp increase in Ottawa's annual deficit to $68.5 billion this year, up from $51.7 billion last year.
CP Budget watchdog forecasts sharp rise in deficit to $68.5B this year
OTTAWA — The parliamentary budget officer says he expects the upcoming fall budget will reveal a sharp increase in Ottawa's annual deficit to $68.5 billion this year, up from $51.7 billion last year.
The Parliamentary Budget Officer (DPB) expects the next fall budget to show a sharp increase in Ottawa's annual deficit from $51.7 billion last year to $68.5 billion this year.
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