Combined Federal And Provincial Debt Projected to Exceed $2.1 Trillion This Fiscal Year: Study

Started by Epoch-Times-Bot, Jan 10, 2023, 03:45 PM

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Epoch-Times-Bot

Jan 10, 2023, 03:45 PM
Combined Federal And Provincial Debt Projected to Exceed $2.1 Trillion This Fiscal Year: Study

Canada’s combined federal and provincial net debt is expected to exceed $2.1 trillion in the 2022-2023 fiscal year, which is nearly double what it was 15 years ago, according to a new report.
“Budget deficits and increasing debt have become serious fiscal challenges facing the federal and many provincial governments recently,” said the report authored by Jake Fuss, associate director of fiscal studies at the Fraser Institute.
“Since 2007/08, combined federal and provincial net debt (inflation-adjusted) has roughly doubled from $1.1 trillion to a projected $2.1 trillion in 2022/23.”
Fuss said that between the pre-pandemic 2019-2020 fiscal year and the 2022-2023 fiscal year, the combined federal-provincial debt-to-gross-domestic-product (GDP) ratio is expected to grow from around 66 percent to nearly 75 percent....

Source: Combined Federal And Provincial Debt Projected to Exceed $2.1 Trillion This Fiscal Year: Study

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