No. of Recommendations: 11
Canada's central government net-debt-to-GDP at around 37%, and its current year deficit as % of GDP, are both the lowest in the G7. I think Germany pulls ahead if you use gross debt to GDP.This makes Canada seem much better than it actually is. Major spending in Canada (healthcare, education, most transportation infrastructure and cultural programs, etc.) is handled by the provinces, in Canada’s federalist system, so most of the indebtedness is at the provincial level, not the federal level. So total debt levels are more like 75% of GDP, not 37%.
fraserinstitute.org - Government debt burden increasing across canada
