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How much money will the government borrow in 2022-23?
How much debt does the government have in 2022-23?
How much money will the government borrow in 2023-24?
How much money did Canada borrow in 2022-23?
Dec 14, 2023 · In 2022-23, total market debt increased by $15.3 billion to $1,259.9 billion (see Table 1). For additional information on the financial position of the government, see the 2022-23 Annual Financial Report of the Government of Canada.
The ratio increased to 7.8 per cent in 2022–23, reflecting an increase in interest rates. This means that, in 2022–23, the government spent approximately 8 cents of every revenue dollar on servicing the public debt.
These Main Estimates present financial requirements for the 2022–23 fiscal year. Due to the need to table Main Estimates on or by March 1, emerging priorities and items announced in Budget 2022 will be included in future Estimates documents.
- Net operating balance as a percentage of nominal gross domestic product, 2008 to 2022. Downsized expenses lower federal government deficit. The federal government deficit contracted by $44.7 billion in 2022 as expenses declined by $33.3 billion (-7.0%), largely due to reductions in social benefits (-$28.9 billion) and subsidies (-$23.7 billion).
- Net operating balance as a percentage of nominal gross domestic product, provincial and local governments, by province, 2021 and 2022. Higher policy interest rate pushes up government interest expenses.
- Ratio of interest expense to revenue, 2008 to 2022. Growth in gross domestic product reduces fiscal burden. Fiscal burden measures all taxes and social contributions paid to governments by individuals, businesses, and non-residents, expressed as a percentage of GDP.
- Grant revenue per capita by province for consolidated provincial and local governments, 2021 and 2022. Gross debt declines following downward market prices revaluation.
Mar 28, 2023 · The aggregate principal amount of money to be borrowed by the government in 2023-24 is projected to be $421 billion, about 85 per cent of which will be used to refinance maturing debt.
The aggregate principal amount of money to be borrowed by the government in 2022-23 is projected to be $435 billion, about 80 per cent of which is composed of existing debt that is maturing and being refinanced.
As part of Budget 2022, the government released the 2022-23 Debt Management Strategy, which set out the government’s objectives, strategy, and borrowing plans for its domestic debt program and the management of its official international reserves. Highlights from the Consultations.
