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:

Net Debt to GDP data summary graphic

CURRENT SITUATION

The provincial budget presented in March 2018 forecasts a net debt-GDP ratio of 34.9 per cent for 2017-18, down from the 2016-17 figure of 35.8 per cent. Estimates for 2018-19 through 2021-22 show the ratio continuing to drop steadily, reaching 32.1 per cent by 2021-22. Note that there have been revisions to the historical nominal GDP data, resulting in a higher ratio for the baseline period (to 36.8 per cent in 2012-13).

yearactualforecast/estimatetarget
198116.830.0
198220.030.0
198321.530.0
198423.130.0
198525.130.0
198624.930.0
198724.930.0
198824.830.0
198926.230.0
199026.930.0
199129.730.0
199238.930.0
199343.030.0
199444.230.0
199544.030.0
199645.630.0
199744.330.0
199846.930.0
199947.230.0
200044.630.0
200145.430.0
200243.730.0
200341.430.0
200439.930.0
200538.130.0
200637.830.0
200735.730.0
200836.230.0
200937.330.0
201034.830.0
201135.530.0
201236.830.0
201338.230.0
201437.830.0
201537.230.0
201635.835.830.0
201734.930.0
201834.230.0
201933.530.0
202032.830.0
202132.130.0
202230.0
202330.0
202430.0

WHAT THIS MEANS

This data point measures the dollar value of the provincial government's debt relative to the size of the province’s GDP. It is expressed in this ratio because the size of the GDP is a common measure of the province's tax base from which to draw revenue, and thus a measure of its ability to pay down the debt.

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