Goal 19

Net Debt to GDP

By 2024 the Province of Nova Scotia’s net debt to GDP ratio will be 30% or less.

Updated:

Current situation

The latest net debt-GDP ratio was 37.5 per cent in 2015-16, down from 38.3 per cent in 2014-15. Although this represents an improvement from the previous year, it remains above the baseline. There have been revisions to the historical nominal GDP data, resulting in a higher ratio for the baseline period (to 36.9 per cent in 2012-13). Nova Scotia is not on track to meet this target now.

year Net GDP Ratio target
1981 19.0 30.0
1982 20.6 30.0
1983 21.5 30.0
1984 23.1 30.0
1985 25.1 30.0
1986 24.9 30.0
1987 24.9 30.0
1988 24.8 30.0
1989 26.2 30.0
1990 27.5 30.0
1991 29.5 30.0
1992 38.9 30.0
1993 43.0 30.0
1994 44.2 30.0
1995 44.1 30.0
1996 45.6 30.0
1997 47.4 30.0
1998 46.9 30.0
1999 47.3 30.0
2000 47.5 30.0
2001 45.4 30.0
2002 43.6 30.0
2003 41.4 30.0
2004 39.9 30.0
2005 38.1 30.0
2006 37.8 30.0
2007 35.7 30.0
2008 34.8 30.0
2009 37.2 30.0
2010 35.0 30.0
2011 35.5 30.0
2012 36.9 30.0
2013 38.2 30.0
2014 38.3 30.0
2015 37.5 30.0

What this means

This data measures the dollar value of the provincial government's debt relative to the size of the province's GDP. GDP size is a common measure of the provincial tax base from which the government can draw revenue and is thus a measure of its ability to pay down debt.

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