At 48.8 per cent, Ontario’s net debt-to-GDP ratio this year will be the highest in provincial history.
According to government forecasts, Ontario’s debt will climb to $502 billion in 2023/24.
Michigan’s per capita GDP was $3,911 higher than Ontario's.
Ontario now anticipates a $38.5 billion budget deficit this fiscal year.
The provincial debt is forecasted to reach $360 billion this year.
The projected deficit will hit $9 billion in 2019-20.
Ontario’s debt burden is forecasted to increase by $48.2 billion between 2018 and 2023.