From 2019 to 2021, Canada had the second-highest increase in gross debt as a share of the economy out of 33 countries.
debt to GDP ratio
Canada's total government debt now equals 107 per cent of GDP.
The Trudeau government forecasts a $154.7 billion budget deficit in 2021/22.
Nova Scotia’s net debt is projected to eclipse $17 billion this year.
According to forecasts, Canadian economic growth for 2020 will shrink by more than 12 per cent.
Newfoundland and Labrador has the highest per-person total government debt among the provinces at $48,478.
Total federal expenditures will grow to a projected $420.5 billion in 2024-25.