| #CanadaFacts
Economy
Understand how various levels of government across Canada generate revenue and where the money goes. Explore economic levers, including taxes, trade, inflation, immigration, and employment trends, and how they impact Canadians. Dive into our Canada Facts series, where fascinating insights meet reliable data, delivering everything you need to stay informed and captivated about Canada!
What are government deficits and do they matter?
At the end of fiscal year (FY) 2022-2023, the Canadian federal debt reached $1.17 trillion, up 2 percent or $33 billion from fiscal 2021-2022. The twenty-year period between FY 2002-2003 and FY 2022-2023 saw the federal debt increase 2.32 times.
How much debt does the Canadian federal government have?
At the end of fiscal year (FY) 2022-2023, the Canadian federal debt reached $1.17 trillion, up 2 percent or $33 billion from fiscal 2021-2022. The twenty-year period between FY 2002-2003 and FY 2022-2023 saw the federal debt increase 2.32 times.