Federal and provincial government debt has nearly doubled from $1.1 trillion in 2007/08 to $2.1 trillion in 2022/23.
debt to GDP ratio
From 2019 to 2021, Canada had the second-highest increase in gross debt as a share of the economy out of 33 countries.
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.