The forecasted central government procurement spending in Canada is expected to grow from $31.46 billion in 2024 to $33.21 billion by 2028, with annual increases ranging from approximately 1.43% to 1.27%. The compounded annual growth rate (CAGR) for this period is around 1.36%. When compared to 2023, these projections indicate continued moderate growth in government procurement expenditures.
Future trends to watch for include:
- Potential shifts in government priorities which may affect procurement spending.
- Economic factors influencing exchange rates and purchasing power parity.
- Technological advancements driving change in procurement processes and efficiency.
