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Conference Paper
The Canadian experience in reducing budget deficits and debt
Journal Article
The Canadian experience in reducing budget deficits and debt
Canada has run persistent deficits for years and has seen its debt rise steadily. Net federal debt as a percentage of GDP has increased in the last 15 years from 30 percent to 73 percent. Interest charges alone account for almost 34 cents of every federal revenue dollar. In response, the Canadian government has taken aggressive action over the last two years.> Canada's finance minister Martin explains how Canada has addressed its fiscal problems. In the luncheon address of the bank's 1995 symposium, "Reducing Budget Deficits and Debt: Issues and Options," Martin explained that the ...