Skip to main content

The Globe and Mail

Quebec among most highly indebted industrial economies in the world

An analysis by the Quebec Ministry of Finance suggests the province has one of the most heavily indebted economies in the industrialized world.

The 44-page document calculates the province's total debt as 94 per cent of GDP, employing methods used by the Organization of Economic Co-operation and Development.

The government report, available on the ministry's website, compares the total provincial public debt to that of other Canadian provinces and to major industrialized nations.

Story continues below advertisement

Quebec ranks only below Japan, Italy, Greece and Iceland in terms of public debt as a percentage of GDP.

The report calculates public debt across Canada as 69.7 per cent of the country's GDP.

The report puts Quebec's total public debt at $285.6-billion.

Report an error
Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨