Luck of the Irish

The Fraser Institute- The Accumulated Debt and Economic Performance of Industrialized Countries during COVID

From 2019 to 2021, Canada had the second-highest increase in its gross debt-to-GDP ratio out of 33 countries covered by the IMF, behind only Japan.

Despite leading our peers—save for Japan—in the accumulation of debt, Canada did not out-perform our peer group in economic growth during the pandemic. Canada had the 11th lowest real GDP growth (5.2%) in 2020 and the 12th lowest real GDP growth (4.6%) in 2021.

It is telling that the United States, which also had a marked increase in its gross debt relative to the size of the economy, markedly out-performed Canada on both measures in 2020 and 2021. Moreover, Ireland, which reduced its gross debt-to-GDP ratio, also outperformed Canada on both measures and, in fact, led the group of 33 industrialized countries in the growth of real GDP in 2020 and 2021.

6 Replies to “Luck of the Irish”

  1. With plastics made illegal…
    More companies, businesses and corporations are looking to escape Canadian Economics or face fines.
    Can you name and see that even ‘bread’ is threatened.
    Creating a great deal more food spoiled and wastage.
    Thanks! Trudeau government! Adding more laws and restrictions to the current load.
    How’s that added carbon taxes working for you too, thanks to Trudeau.
    No replacements are available and we don’t make things anymore, just import due to laws imposed here.

  2. The libranos flooded the economy with unneeded money creating the greatest pool of personal savings in the history of the country.

    Now when people are asked to go back to work – they won’t. The stimulus continues to flow and real inflation is at 15% or more. The Libranos claim all inflation factors are external/international.
    They have no part in the cause of inflation and of course no answers.

    It’s classic librano thinking. Deficits balance themselves and their great economic thinker the deputy PM hasn’t got bloddy clue.

    1. It’s classic Justin thinking. Let’s be like daddy and ruin the country.

  3. Stupid people doing stupid things and reaping the rewards of their stupidity. Keep on keeping on folks, eventually you will kill yourselves or those you voted for will do the job.

  4. Since the start of the Wu Flu lockdowns, the public sector has added over 400,000 employees. What the hell are they doing? Have you noticed any new or improved government services? Over the same period, public sector employees have gone from 20% of those employed to 25%. The cost to the taxpayer is enormous and will further accelerate the arrival of Canada’s bankruptcy.