Canada Had Largest Debt Increase Among G7 Countries Over Last Decade: Fraser Institute
Canada’s total government debt has grown substantially since 2014 and has outpaced that of nearly every other advanced country around the world, according to a new study from the Fraser Institute.
The study, “The Deterioration of Canada’s Finances Internationally” released May 15, compared Canada’s finances during the last 10 years to that of 40 other advanced countries internationally, including G7 countries. The authors found that Canada experienced one of the largest increases in government size over the last decade and now has one of the highest debt burdens of any advanced economy country.
“Simply put, over the past decade, the size of government in Canada and the overall government debt burden have grown faster than nearly every other advanced economy in the world,” says the report, authored by the Fraser Institute’s policy analyst Grady Munro and Jake Fuss, director of fiscal studies.
“This has translated to a deterioration in the state of Canada’s finances relative to comparable countries, and likely means lower economic growth and reduced living standards for Canadians.”?
Canada’s total government debt has grown substantially since 2014 and has outpaced that of nearly every other advanced country around the world, according to a new study from the Fraser Institute.
The study, “The Deterioration of Canada’s Finances Internationally” released May 15, compared Canada’s finances during the last 10 years to that of 40 other advanced countries internationally, including G7 countries. The authors found that Canada experienced one of the largest increases in government size over the last decade and now has one of the highest debt burdens of any advanced economy country.
“Simply put, over the past decade, the size of government in Canada and the overall government debt burden have grown faster than nearly every other advanced economy in the world,” says the report, authored by the Fraser Institute’s policy analyst Grady Munro and Jake Fuss, director of fiscal studies.
“This has translated to a deterioration in the state of Canada’s finances relative to comparable countries, and likely means lower economic growth and reduced living standards for Canadians.”?
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