Canada Records Largest Deficit In 7 Years In 2019: StatCan

November 20, 2020 10:00 AM EST | By Team Kalkine Media

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The Canadian general government saw a deficit of C$ 25.3 billion in 2019, as against an excess of C$ 2.6 billion in 2018, the Statistics Canada reported on Wednesday, November 18.
The deficit made 1.1 per cent of Canada’s gross domestic product (GDP) in 2019, which was the largest since that of 2.1 per cent in 2012.
The federal government’s deficit in 2019 stood at C$ 11.9 billion, down from a surplus of C$ 3.4 billion in 2018.
The combined general government, which included provincial, territorial and local governments (PTLGs), posted a deficit of C$ 13.4 billion in 2019, significantly increased from that of C$ 0.7 billion in 2018.

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