This report examines the financial health of the federal and provincial governments in Canada.
In 2016, the economy grew faster than expected – meaning higher revenues for the federal government. Spending levels, however, were higher as well. Balanced budgets became more common among the provinces – with the exceptions in the resource regions - but overall debt levels climbed rapidly.
Looking forward, the report anticipates federal deficits equivalent to 1.2 per of GDP through 2022/23 and stabilizing revenue and spending trends for the provinces.