Oliver's spokesman, Nick Bergamini, has tweeted that Oliver will deliver the update in Toronto.
In a statement, Oliver says the update will reflect the government's focus on jobs and the economy and demonstrate that a balanced budget in 2015 remains in the cards.
The update is sure to be watched closely in the wake of the government's controversial new family measures, which include income splitting for families with children and an enriched child care benefit.
The government has also recently announced it would double the child fitness tax credit and, in the next budget, is expected to make good on a 2011 promise to double the annual limit for tax-free savings accounts.
Experts are also keeping a close eye on the sliding price of oil— a major influence on the government's books.
Oliver has already said he doesn't expect oil prices to force the government to reconsider its economic game plan.
"Canadians can expect an update of our fiscal position, which, due to the strong economic management of our Conservative government, shows we are on track to balance the budget in 2015," he said in a statement.
"Under the leadership of Prime Minister (Stephen) Harper, we will continue the sound economic management that has made Canada the best place in the world to live, work and raise a family."
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