The province’s nominal debt will rise from $440 billion in 2021/22 to $504 billion in 2023/24.
ontario government debt
Ontario's debt interest costs will rise by 21 per cent.
The provincial net debt-to-GDP ratio went from about 5 per cent in the 1960s to more than 40 per cent in 2020.
Quebec reduced its debt-to-GDP ratio by 3.4 per cent.
Within two fiscal years of Chretien's 1995 budget, federal finances had moved from large deficits to surpluses.
Most of Ontario’s February employment gains were for part-time work.
By 2020/21, the provincial net debt equaled $27,010 per Ontarian.
Ontario's debt interest costs are expected to increase to $13.9 billion in 2022/23.