🍁Canada National Debt Clock

What is Net Debt vs. Gross Debt?
The net debt (accumulated deficit) of $1.27 trillion represents the government's total liabilities minus its financial assets. The gross debt of $2.35 trillion includes all federal liabilities without subtracting assets. Canada's federal debt has grown significantly, with debt per person reaching $56,432 in 2025—the second-highest in Canadian history (after 2021 during the pandemic).

Debt Service Costs:
In fiscal year 2024-25, the Government of Canada spent $53.4 billion on public debt charges (interest payments), representing 9.8% of total federal expenses. This is up from 9.1% the previous year, as interest rates have risen from historic lows.

How Fast is the Debt Growing?
Based on the November 2025 federal budget, Canada's debt is increasing by approximately $237.8 million per day, or $165,145 per minute, or $2,752 per second. This equates to an annual increase of about $34.7 billion by March 31, 2026.

📊 Historical Context: Canada's federal gross debt of $2.35 trillion (inflation-adjusted) is the highest in Canadian history. The debt-to-GDP ratio is projected to remain above 42% through 2030.

💳 Credit Rating: Canada maintains a AAA credit rating from major agencies, though there are concerns about fiscal sustainability if debt continues to grow at the current pace.

🏛️ Provincial Debt: In addition to federal debt, Canada's provincial and territorial governments carry $1.49 trillion in total liabilities, making the combined government debt burden even larger.

📈 Future Outlook: The Parliamentary Budget Officer has warned that Canada's fiscal situation is "unsustainable" without changes to spending or revenue policies.