This executive action briefing is part of a series that examines the causes and effects of the global recession and presents key lessons for policy makers and business leaders.
Lessons From the Recession and Financial Crisis: Lesson 8—The Fiscal Bills Will Have to be Paid
Lessons From the Recession and Financial Crisis: Lesson 8—The Fiscal Bills Will Have to be Paid
Canadian Economic Analysis
Global Economic Analysis
$90.00
- Despite the global economic recovery, many countries find themselves saddled with heavy debt loads that will constrain their ability to fund programs for years to come.
- Overall government debt in the EU is expected to skyrocket—from an average of 58.8 per cent of GDP before the crisis to an estimated 83.8 per cent in 2011. This will make it even more difficult for EU governments to meet the increasing and costly demands of an aging population.
- Canada has emerged from the recession in a much better fiscal position than almost every other developed country. Years of paying down debt prior to the recession are now paying dividends for the federal government.
- For many provincial governments, their ability to balance their books is contingent on controlling health-care costs.
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