Majid Jowhari at the Government Operations and Estimates Committee

On May 29th, 2020. See this statement in context.

May 29th, 2020 / 11:45 a.m.

Liberal

Majid Jowhari Liberal Richmond Hill, ON

Thank you, Mr. Chair, and thank you, Mr. Giroux, for providing the testimony.

You indicated that based on your analysis, we're going from 30% to about 48% of debt-to-GDP ratio, and that was as of, I believe, April 24. You also mentioned that another $7 billion after that needs to be added to the debt, and assuming the same rate of GDP growth, we would be, as you mentioned, higher, but you didn't specifically say where that would position us.

You also mentioned that we could reach about 66%, comparable to the 66% in 1995. As of today, where would our debt-to-GDP ratio be with the addition of the $7 billion?

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