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

Combined Federal-Provincial Debt Projected to Exceed $2.1 Trillion This Fiscal Year: Study
The Canadian flag flies near the Peace Tower on Parliament Hill in Ottawa on June 17, 2020. Adrian Wyld/The Canadian Press
Peter Wilson
Updated:
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Canada’s combined federal and provincial net debt is expected to exceed $2.1 trillion in the 20222023 fiscal year, which is nearly double what it was 15 years ago, according to a think tank 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.