Province's Debt History
Net Debt and Interest-on-Debt
| Fiscal Years 2013–14 to 2024–25 ($ Millions) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Actuals | Current Outlook | Medium-Term Outlook | ||||||||||
| 2013– 14 |
2014– 15 |
2015– 16 |
2016– 17 |
2017– 18 |
2018– 19 |
2019– 20 |
2020– 21 |
2021– 22 |
2022– 23 |
2023– 24 |
2024– 25 |
|
| Net Debt | 276,169 | 294,557 | 306,357 | 314,077 | 323,834 | 338,496 | 353,332 | 373,564 | 380,415 | 407,231 | 424,750 | 436,199 |
| Net-Debt-to-GDP | 39.7% | 40.5% | 40.3% | 39.7% | 39.3% | 39.4% | 39.6% | 43.1% | 39.2% | 38.4% | 38.7% | 38.3% |
| Net-Debt-to-Revenue | 224.6% | 233.5% | 225.0% | 223.2% | 215.0% | 220.2% | 226.4% | 226.5% | 205.6% | 218.0% | 220.1% | 213.8% |
| Interest-on-Debt (IOD) | 11,155 | 11,221 | 11,589 | 11,709 | 11,903 | 12,384 | 12,495 | 12,274 | 12,558 | 13,605 | 14,530 | 14,947 |
| IOD-to-Revenue | 9.1% | 8.9% | 8.5% | 8.3% | 7.9% | 8.1% | 8.0% | 7.4% | 6.8% | 7.3% | 7.5% | 7.3% |
Net Debt-to-GDP
Sources: Public Accounts of Ontario (1990–1991 to 2021–2022) and Ontario Ministry of Finance.
Accessible description of chart: Net Debt-to-GDP
Net Debt-to-Revenue
Sources: Public Accounts of Ontario (1990–1991 to 2021–2022) and Ontario Ministry of Finance.
Accessible description of chart: Net Debt-to-Revenue
IOD-to-Revenue
Sources: Public Accounts of Ontario (1990–1991 to 2021–2022) and Ontario Ministry of Finance.
Accessible description of chart: IOD-to-Revenue
Province's Consolidated Debt Portfolio
Publicly-held Debt
The Province's publicly-held debt consists of funds borrowed from the general public and institutional investors.
Publicly held debt as of March 31, 2022, is $417.7 billion, or 98 per cent of total debt, issued in the following currencies:
| • $348.9 billion Canadian dollars | • $4.7 billion Pound Sterling |
| • $44.9 billion U.S. dollars | • $1.5 billion Australian dollars |
| • $16.8 billion Euros | • $0.9 billion Swiss francs |
Note: Publicly-held debt includes the offsetting of $7.1 billion in Ontario bonds and treasury bills purchased and held by the
Province against Canadian dollar debt. Numbers may not add due to rounding.
Non-Public Debt
Ontario's non-public debt as of March 31, 2022 is $8.8 billion, or 2 per cent of total debt.
Non-public debt consists of debt instruments issued mainly to Canada Pension Plan Investment Board (CPPIB).
