Canadian national debt projected to exceed $1.4 trillion by 2024-25, with daily increase of over $100 million.
Canada's national debt is projected to exceed $1.4 trillion by 2024-25, with a daily increase of over $100 million and interest payments surpassing $1,200 per second. Despite 55% of Canadians expressing concerns about high government spending, the debt-to-GDP ratio is expected to rise for at least two more years. The nation is currently facing a GDP-per-capita recession and challenges related to mortgage renewals and recent interest rate cuts. Understanding and managing national debt is crucial for economic stability.
September 04, 2024
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