The 10 Minute Take - Canada’s fiscal snapshot – massive deficit, record federal debt

Jul 09, 2020 | Brian Moore


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The 10-Minute Take podcast provides insights from RBC economists and market experts on events unfolding around the globe. Featuring Craig Wright, RBC Chief Economist.

The 10 Minute Take Podcast

The COVID crisis delivered a bigger shock to our economy than most expected. Ottawa is forecasting an enormous $343 billion deficit in 2020, which pushes the federal debt load past the $1 trillion mark for the first time. Can Canada take on more debt without further risking our sovereign credit rating? And how will the federal government transition people from the CERB relief program to more productive wage subsidies or other schemes? Craig Wright, RBC’s Chief Economist, shares his take on Canada’s fiscal snapshot.

 

Click here for the full podcast; The 10 Minute Take.