when did canada last have a balanced budget
Canadian public debt With a recession, and an increase in federal spending from 2008, the federal debt grew by $5.8 billion in 2008â€“09. Large annual deficits from 2008 to 2013 has Canadian debt surpassing the $600 billion mark by November 2012, making it larger than the 1997 peak in absolute dollars (although far smaller in comparison to GDP). Starting in 2014, Canada returned to balanced budgets and has posted a small surplus (despite the debt continuing to increase in the following table).