The federal debt going into this recession would have been $617.9 billion rather than the expected $713.2 billion.
federal government budget
The Trudeau government has run five consecutive deficits since taking office in 2015 and is expected to have accumulated approximately $84.3 billion in federal debt—$713.2 billion total—by the end of 2019-20.
The Trudeau government projects a $26.6 billion deficit for 2019-20.
The federal debt-to-GDP ratio increased from 30.8 per cent to 31.0 per cent.
Program spending could grow by nearly $50 billion in just five years
By 2024/25, federal debt is expected to hit $787.4 billion.