In 2023, the Social Security Government Fiscal Balance in Canada was recorded at 12.5 billion US Dollars PPP. The forecasted fiscal balance indicates a steady positive trend, with values projected to increase from 12.82 billion in 2024 to 14.3 billion by 2028. This translates to a compound annual growth rate (CAGR) of approximately 2.28% over the five-year period.
Year-on-year growth rates are as follows:
- 2024: 2.56%
- 2025: 2.96%
- 2026: 2.80%
- 2027: 2.73%
- 2028: 2.58%
Future trends to watch for include potential impacts of demographic shifts on social security spending, variations in economic growth that could affect fiscal contributions, and policy changes aimed at ensuring long-term sustainability of social security systems as Canada's aging population increases.
