Canada's finance minister Chrystia Freeland said on Tuesday that she believes that the debt-to-GDP ratio for 2023-2024, set in the 2024 budget, will be met. The official added that this is important as the government's fiscal anchor is a declining debt-to-GDP ratio.
In its 2024 budget, the Canadian government declared the 2023-2024 debt-to-GDP ratio would be 42.1% and decrease gradually to 39.0% in 2028-2029.
The Fall economic statement with updated deficit numbers will be presented next Monday.