The Canadian government's budget allocation for R&D is projected to grow steadily over the next five years, rising from 10.94 billion USD PPP in 2024 to 11.68 billion USD PPP by 2028. Compared to the 2023 allocation, which was 10.75 billion USD PPP, the forecasted allocation indicates a positive trend, with a compounded annual growth rate (CAGR) of approximately 1.84%. Year-on-Year growth rates are relatively stable, reflecting a consistent investment approach by the Canadian government.
Future trends to watch include the potential impact of global economic uncertainties and shifts in government priorities, particularly in technology and sustainability sectors, which could influence further increases or reallocations in the budget.
