Mr. Yves Giroux at the Government Operations and Estimates Committee

On May 8th, 2023. See this statement in context.

May 8th, 2023 / 4:40 p.m.

Parliamentary Budget Officer, Office of the Parliamentary Budget Officer

The federal debt-to-GDP ratio is increasing in the short term as a result of slower-than-expected GDP growth—so, inflation and nominal GDP. Inflation is expected to slow down. Also, government spending, notably the deficit, is expected to increase, which will put pressure on the debt-to-GDP ratio. This is what is driving the increase in the ratio.

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