Finance Minister Bill Morneau is expected to reveal the date of the federal budget when he updates Canadians on the state of the economy today, CBC News has learned.

Morneau is holding a town hall meeting in Ottawa on Monday morning.

CBCNews.ca is carrying his remarks live starting at 10:30 a.m. ET.

The federal finance minister will provide details of the country's economic and fiscal situation ahead of the budget, a source told CBC News.

The source said Morneau will lay out the themes of the next budget and talk about the government's approach to managing the economy.

Morneau is also expected to reconfirm the government's commitment to investing in middle-class Canadians and ensuring long-term growth.

Prime Minister Justin Trudeau has said his government will not be able to keep an election promise to keep deficits under $10 billion for the next budget year.