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  Budget 2020-2021

Comparisons with other governments in Canada

Québec’s debt remains relatively high, even though budgetary 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 stood at 39.3% of GDP, compared with the provincial average of 30.2%.1

Québec’s net debt burden is expected to decrease to 37% of GDP in 2020, and to 33% in 2025.

Net debt of governments in Canada as at March 31, 2019 - Percentage of GDP

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.