The update projects a $21.3 billion provincial budget deficit in 2020/21.
debt interest payments
Debt interest will cost Ottawa an estimated $19.5 billion this year.
Ontario entered this recession with an already elevated government debt burden.
According to the Kenney government, debt interest costs will hit $3 billion by 2022/23.
Ontario’s debt load will soar to a forecasted $392 billion by 2023/24.
Alberta now has a net debt position of $30 billion.
Alberta’s days of having unusually low debt servicing costs are coming to an end.