Canada Federal Budgetary Balance (12-Month Total)

## What this measures

The federal budgetary balance (canada.federal.budget_balance_monthly) added up over the latest twelve months: a rolling annual deficit or surplus.

## Why it matters

It smooths the lumpy monthly figures into the same scale as the annual deficit in the federal budget.

## How to read it

Negative is a deficit. Compare with the deficit projected in the latest budget; a 12-month total running deeper than plan signals a miss.

## What it does not say

It mixes two fiscal years, uses unaudited monthly figures, and is published only when all twelve months are available.

## Source

Finance Canada, The Fiscal Monitor, Chart 1 ("Monthly Budgetary Balance"), from the data tables published on open.canada.ca for each monthly release since 2022. Palanor re-reads the latest release of each year, so revisions carry through.

Contains information licensed under the Open Government Licence – Canada. Palanor sums the latest twelve monthly balances.