Canada’s Budget Watchdog Sees Rising Debt-to-GDP Ratio

Canada’s federal fiscal picture is set to worsen as deficits and debt rise as a percentage of the economy, according to the latest forecasts from the country’s budgetary watchdog.

The parliamentary budget officer says Prime Minister Mark Carney’s government will run a C$68.5 billion ($49.2 billion) deficit this fiscal year, up from about C$52 billion in 2024-25.