Comparisons with other governments in Canada

Québec’s debt reamins relatively high, even though budget surpluses have been recorded in recent years.

Regardless of the concept of debt, Québec remains one the most indebted provinces in Canada.

As at March 31, 2019, Québec’s net debt burden was 39.7% of GDP, compared with the provincial average of 30.3%.1

Québec’s net debt burden will decrease to 38% of GDP as at March 31, 2020, and to 34% as at March 31, 2024.

Gross debt and debt representing accumulated deficits as at March 31, 2017 (percentage of GDP)
Type of debt N.L. Qué. Fed. N.B. Man. Ont. N.S. P.E.I. B.C. Sask. Alta.
Gross Debt 30.7 22.0 16.3 33.0 29.8 19.2 19.3 11.7 25.7 22.1 15.2
Debt representing accumulated deficits1 30.7 29.9 31.2 14.1 14.0 24.2 22.2 17.9 -2.4 -0.5 -12.3
Total 61.4 51.9 47.5 47.1 43.8 43.4 41.5 29.6
(1) A negative entry indicates that the government has an accumulated surplus.
Sources : Public accounts of the provinces and the Government of Canada.

Weighted average as a proportion of GDP