In 2023, government budget allocations for R&D in Canada stood at an unspecified value. For the years following, forecasted allocations show a steady increase: $9.74 billion in 2024, $9.85 billion in 2025, $9.96 billion in 2026, $10.06 billion in 2027, and $10.16 billion in 2028, all expressed in billion US dollars PPP, constant. Year-on-year growth from 2024 to 2028 is approximately 1% annually, with a compound annual growth rate (CAGR) around 0.98% across the predicted period.
Future trends to watch for include:
- Shifts in government priorities affecting R&D budgets.
- Emergent technologies potentially stimulating further budget increases.
- Economic conditions impacting fiscal capacities for R&D investment.
- Federal and regional policy changes influencing distribution of funds.
