How much debt does Ontario have 2021?

Ontario’s total long-term borrowing completed in 2021–22 is forecast to be $42.0 billion — $21.9 billion was borrowed in the Canadian dollar market and $6.9 billion was borrowed in foreign currencies, with $13.2 billion of borrowing remaining for 2021–22.Nov 4, 2021

What is the current deficit for Ontario?

The province projected a budget deficit of C$32.4 billion ($25.9 billion) for the 2021-2022 fiscal year, compared to the C$33.1 billion deficit forecast in a budget in March. The fiscal year began on April 1.

Does Ontario have the highest debt?

As a share of the economy, Ontario’s debt (38.6 per cent) is more than five times larger than California’s debt (7.7 per cent). Ontario’s per capita debt ($17,922) is over four-and-a-half times that of California ($3,833). Across every comparable indicator, Ontario’s indebtedness is decidedly greater than California.

Who does Ontario owe its debt to?

The debt represents the amount of money the government has borrowed from the general public and institutional investors, such as pension funds, insurance companies and banks. At the end of 2018-19, the province owed a projected $343 billion in debt, higher than any other subnational government in the world.

Does Ontario have the largest debt?

Fiscal Year Net Debt (CDN$ billions) Deficit (-) or Surplus (CDN$ billions)
———– ———————— ————————————–
2019-20 353.3 -8.7
2018-19 338.5 -7.4
2017-18 323.8 -3.7
2016-17 314.1 -2.4

Which Canadian province has the most debt?

Regardless of the concept of debt, Québec remains one the most indebted provinces in Canada. As at , Québec’s net debt burden stood at 39.9% of GDP, compared to the provincial average of 30.8%. T.

Is Ontario the most indebted region in the world?

Record Debt Ontario, the world’s largest sub-sovereign bond issuer, is projecting its net debt-to-GDP to reach 50.2% by fiscal 2023-2024, up from 47.1% at the end of the last fiscal year, according to the budget documents released in late March.

Which province has the greatest debt?

Newfoundland and Labrador recorded the highest PTLG net debt per capita in 2020, at $21,580, followed by Ontario ($21,282) and Manitoba ($20,641). Expressed as a percentage of GDP, the highest net debt was recorded in Manitoba (39.2%), followed by Quebec (37.5%), Ontario (36.3%) and Newfoundland and Labrador (35.5%).

Who holds most of Canada’s debt?

highest combined federal-provincial debt-to- GDP ratio (106.0%), while Alberta has the low- est (66.1%). Newfoundland & Labrador has the highest combined debt per person ($64,224), closely followed by Ontario ($58,559). In con- trast, British Columbia has the lowest debt per person in the country with $43,635.

What is Canada’s 2020 debt?

The federal net debt rose by $253.4 billion in 2020 to reach $942.5 billion or 42.7% of GDP, compared with 29.8% in 2019. Financial assets for the federal government grew 13.2% to $523.5 billion, while liabilities increased by 27.3% to $1,466.0 billion.

Is Canada in more debt than the US?

While both countries are in the list of top ten economies in the world in 2018, the US is the largest economy in the world, with US$20.4 trillion, with Canada ranking tenth at US$1.8 trillion. Canada’s 2017 debt-to-GDP ratio was 89.7%, compared to the United States at 107.8%.