Canadian public debt - wikipedia Canadian public debt Public finance Policies Agricultural Economic Energy Industrial Investment Social Trade Fiscal Monetary Policy mix Fiscal policy Budget policy Debt external internal Deficit / surplus Finance ministry Fiscal union Revenue Spending deficit Tax Monetary policy Bank reserves requirements Discount window Gold reserves Interest rate Monetary authority central bank currency board Monetary base Monetary ( currency ) union Money supply Trade policy Balance of trade Free trade Gains from trade Non-tariff barrier Protectionism Tariff Trade bloc Trade creation Trade diversion Trade / commerce ministry Revenue Spending Non-tax revenue Tax revenue Discretionary spending Mandatory spending Optimum Balanced budget Economic growth Price stability Reform Fiscal adjustment Monetary reform The Canadian government debt, commonly called the `` public debt '' or the `` national debt '', is the amount of money owed by the Government of Canada to holders of Canadian Treasury security. In 2013, this number stood at CAD $1.2 trillion across federal and provincial governments. With the total GDP somewhere around CAD $1.8 trillion, Canada 's overall debt / GDP ratio is around 66 %. `` Gross debt '' is the national debt plus intragovernmental debt obligations or debt held by trust funds. Types of securities sold by the government include treasury bills, notes, bonds, Real Return Bonds, Canada Savings Bonds, and provincial government securities. The annual government `` deficit '' is the difference between government receipts and spending. Contents 1 Revenue and spending 2 History 2.1 Foreign ownership 3 Public debt held by Canadian provinces 4 Calculating and projecting the debt 5 Advocacy Groups 6 See also 7 Notes 8 References 9 External links Revenue and spending Further information : Taxation in Canada and Canadian federal budget History Canada 's federal debt grew steadily between 5 % and 10 % per year until 1975. For the next 12 years it grew on average over 20 % per year. It surpassed $100 billion in 1981, $200 billion in 1985, $300 billion in 1988, $400 billion in 1992, and $500 billion in 1994. It peaked at $563 billion in 1997, before then declining to $458 billion by 2008. With a recession, and an increase in federal spending from 2008, the federal debt grew by $5.8 billion in 2008 -- 09. Large annual deficits from 2008 to 2013 has Canadian debt surpassing the $600 billion mark by November 2012, making it larger than the 1997 peak in absolute dollars ( although far smaller in comparison to GDP ). Starting in 2014, Canada returned to balanced budgets and has posted a small surplus ( despite the debt continuing to increase in the following table ). End of Fiscal Year Net Debt $ Billions ( Adjusted for inflation, 2017 ) as % of GDP GDP $ Billions 1962 14.8 ( 121.4 ) 33.0 % 44.9 1971 20.3 ( 126.1 ) 20.6 % 98.4 1981 91.9 ( 240.2 ) 25.5 % 360.5 1991 377.7 ( 592.0 ) 55.1 % 685.4 562.9 ( 811.1 ) 63.8 % 882.7 2002 511.9 ( 664.2 ) 44.4 % 1,152.9 2008 457.6 ( 515.3 ) 31.4 % 1,453.6 2009 463.7 ( 495.1 ) 32.8 % 1,413.3 519.1 ( 579.5 ) 35.5 % 1,458.8 551.4 ( 599.19 ) 36.9 % 1,495.7 2012 583.6 ( 626.4 ) 38.3 % 1,576.8 2013 609.4 ( 645.5 ) 37.4 % 1,608.5 2014 611.9 ( 634.78 ) 37.1 % 1,649.2 2015 612.3 ( 627.21 ) 31.0 % 2016 616.0 ( 623.17 ) 31.1 % Foreign Ownership In 1960, 4 % of the Canadian government debt was held by foreign investors. From 2009 - 2010 to 2013 - 2014, the amount of the Canadian 's debt held by foreign investors passed from 15 % to 27 % with a peak at 30 % in 2012 - 2013. Even if growing, this level is still lower than most G7 countries in 2013 - 2014 ( France, 64 %, Germany, 62 %, United States, 48 %, Italy, 33 %, United Kingdom, 29 % and Japan, 8 % ). Public debt held by Canadian provinces In fiscal year 2017 - 2018, the debt - to - GDP ratios of the provinces are projected to range from 7.1 % for Alberta to 49.9 % for Newfoundland & Labrador. Calculating and projecting the debt In 2002 -- 2003, Canada changed its calculation for net debt. Before this, net debt was defined as the total liabilities minus total assets ; now it is the total liabilities minus financial assets, as the government prefers the concept of `` accumulated deficit '', which corresponds to the old definition of net debt. Advocacy groups Generation Squeeze is a Canadian not - for - profit organization advocating for intergenerational equity. See also Canadian federal budget Taxation in Canada Economy of Canada Ontario debt General : Government budget deficit Public debt International : List of sovereign states by public debt Notes References Jump up ^ NP 16 May 2013 `` Beyond our means : Government debt tops $1.2 - trillion and spending is still rising '' Jump up ^ Canada 's Debt History Archived 26 October 2009 at the Wayback Machine. Canadian Taxpayers Foundation Jump up ^ Inflation Calculator Bank of Canada Jump up ^ World Bank data Jump up ^ http://www.fin.gc.ca/afr-rfa/2014/report-rapport-eng.asp ^ Jump up to : http://www.fin.gc.ca/afr-rfa/2015/report-rapport-eng.asp Jump up ^ http://www.fin.gc.ca/afr-rfa/2016/report-rapport-eng.asp Jump up ^ Safaraian, A.E. The Hegemony of International Business, 1945 -- 1970, Volume IV : Foreign Ownership of Canadian Industry. New York : Routledge, 1973. 12. Jump up ^ Department of Finance Canada, Debt Management Report 2011 -- 2012, http://www.fin.gc.ca/dtman/2011-2012/dmr-rgd1201-eng.asp#Toc340732968 Jump up ^ Department of Finance Canada, Debt Management Report 2013 -- 2014, http://www.fin.gc.ca/dtman/2013-2014/dmr-rgd1401-eng.asp#toc12 Jump up ^ `` Canadian Federal and Provincial Fiscal Tables '' ( PDF ). Economic Forecasts & Special Reports. Royal Bank of Canada. 23 December 2015. Retrieved 26 January 2016. External links Canadian Debt Clock, by the Canadian Taxpayers Federation Canadian Governments Compared Economy of Canada General topics Advance Commercial Information Bay Street Branch plant economy CHRP ( Designation ) Canada Development Corporation Canadian Agreement on Internal Trade Canadian public debt Canadian transfer payments Credit Institute of Canada Crow Rate Economic impact of immigration to Canada Comparison of Canadian and American economies Equalization payments in Canada Federal Contractors ' Program Federal financing for small businesses in Canada International rankings of Canada LLQP Land ownership in Canada Great Recession in the Americas Montreal Exchange NAFTA superhighway NASDAQ Canada National Child Benefit National Round Table on the Environment and the Economy Oil reserves in Canada Canadian Payroll Association List of Canadian provinces and territories by gross domestic product Canada Savings Bond Canadian Securities Course Security and Prosperity Partnership of North America Student Connections Student Connections Red River College 3rd Summit of the Americas System for Electronic Document Analysis and Retrieval Industry Athabasca oil sands Automotive industry in Canada Nuclear industry in Canada Tax Canadian import duties List of tariffs in Canada Taxation in Canada Labour Canadian labour law Minimum wage in Canada Social Union Framework Agreement Social welfare in Canada Indices Canadian Index of Consumer Confidence International rankings of Canada Retrieved from `` https://en.wikipedia.org/w/index.php?title=Canadian_public_debt&oldid=822869982 '' Categories : Economy of Canada Canadian public debt Hidden categories : Webarchive template wayback links Use dmy dates from April 2014 Talk Contents About Wikipedia Français Svenska Edit links This page was last edited on 29 January 2018, at 00 : 03. 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Question: what is canada's debt to gdp ratio
Answer: around 66%