Newfoundland and Labrador Debt: 013,201,073,955.29, Nova Scotia’s net debt is projected to grow by $207 million in 2019-20. “Obviously, there are different industries that support the west versus the east,” she said. “What we do see is the average cost for lines of credit in the west is 40-50% higher than what you can get in the east. $760.50 per $1,000 of GDP Ranked 31st. From your mood to your heart and your gut, When 5 p.m. rolls around, and you haven’t given a single thought to what’s for... Best Adventure Vacations In The U.S. 2020, 5 Money Management Tips For College Students, Best Mechanical Engineering Schools In Canada 2021, Best Careers Worth Going Back to School For, https://www.universitymagazine.ca/author/emily-wilson. According to the report, Canadian consumer debt in Q2 2020 rose 2.8% from the same quarter last year, reaching just short of $2 trillion. U.S. National Debt Clock May 2021 An Overview of the United States National Debt The Current Outstanding Public Debt of the United States is: $27,752,835,868,445.35 Last Updated: Sunday, May 9th, 2021 Every man, woman and child in the United States currently owes $84,099 for their share of the U.S. public debt Public Debt: $21,636,377,183,394 At 44.3%, Saskatchewan has the lowest debt and Prince Edward Island has the lowest debt per person in the country with $28,394. On the other hand, China with a population of about 1.4 billion debt per citizen is over 15 times lower than Japan’s, and over 11 times lower than the … Mortgage borrowing hits new high, while household disposable income declines . "It is a debt that has occurred because there is a whole suite of programs that have got to … Among the provinces, Ontario has the highest combined federal-provincial debt-to-GDP ratio (75.4%), while Saskatchewan has the lowest (44.3%). TORONTO, ON (March 5, 2020) – According to Equifax® Canada’s latest report on Canadian consumer credit, a resurgence in mortgages pushed consumer debt 4.4 per cent higher at the end of 2019 from the same period last year to $1.989 trillion. Canada is on the path to one trillion-dollar debt, with our national debt sitting at $896.3 Billion as of October 08, 2020, What is that means for Canadians is means the cost of Government services such as Passport and immigration will increase and possible cuts to services in Education and Health down the road as we need to pay interest and the balance down on those national debts. Quebec's debt is $187 billion, or about $22,641 per person. Canada Government debt accounted for 54.0 % of the country's Nominal GDP in Mar 2020, compared with the ratio of 52.7 % in the previous year. The same is reflected in the statistics found in major cities, where Calgary ($28,890), Edmonton ($27,571) and Vancouver ($25,940) led the list of places where personal debt levels are highest. This trend is in sharp contrast to other forms of credit like credit cards, auto loans and lines-of-credits, which fell in use overall during the pandemic. In 2020/21, combined federal and provincial net debt is expected to equal 91.6% of the Canadian economy, up from 65.2% last year. Those with student loans or an outstanding balance on their credit card have a slightly lower median debt of $28,000. What also appears to be a clear trend is that Western Canada is more in debt than the rest of Canada. While non-mortgage debt loads are down across the board, Equifax found that the Western Region average debt in Q2 ($25,063) significantly outpaced that of the Eastern Region ($22,782). Summary Net Debt” is used for calculating Manitoba’s debt. 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