Québec's debt
In recent years, the subject of the government's debt has become more prominent in discussions on public finances. People are concerned by the size of the debt and its growth.
How much is the Québec government's debt?
As at March 31, 2018, the gross debt will stand at $204.5 billion, equivalent to 49.6% of GDP. The ratio of gross debt to GDP has decreased over the past three years, that is, since March 31, 2015.
The gross debt represents the sum of the debt issued on financial markets and the net liabilities for the retirement plans and other future benefits of government employees from which the balance of the Generations Fund is subtracted. The gross debt does not take into account the government's assets (fixed assets, investments, etc.).
That is why, in addition to the concept of gross debt, the government uses the concepts of net debt and debt representing accumulated deficits. This last concept represents the difference between the government's liabilities and its assets. It represents the “bad debt”, i.e. the debt that does not correspond to an asset.
| Millions of dollars |
% of GDP |
|
|---|---|---|
| Gross debt | 204 533 | 49.6 |
| Less: Financial assets, net of other liabilities | - 23 392 | |
| Net debt | 181 141 | 43.9 |
| Less: Non-financial assets | - 71 434 | |
| Plus: Stabilization reserve | 5 402 | |
| Debt representing accumulated deficits | 115 109 | 27.9 |
