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The gap closed somewhat in the 1980s but at a much slower pace than in the 1960s. From 1961 to 1973 labour productivity rose annually by 3.3 percent in Canada and 1.7 percent in the United States. According to a 1997 IMF report, from 1973 to 1995 productivity growth was 1.1% in Canada and 0.8% in the United States. [50]
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
The International Monetary Fund's (IMF) World Economic Outlook reports that for 2021 Canada's net debt-to-GDP ratio was 32% and the gross debt-to-GDP ratio was 113%. [51] According to the IMF, for the last 15 years, Canada had the lowest net debt-to-GDP ratio, at around 33%, among G7 countries. [52]
This is a list of countries by external debt: it is the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods or services, where the public debt is the money or credit owed by any level of government, from central to local, and the private debt the money or credit owed by private households or private corporations based on the country under ...
Over the last 30 years, the U.S. has steadily increased its national debt from $4 trillion to $28.43 trillion through December 2021, according to government data. And it crossed the $30 trillion ...
Country Government expenditure (% of GDP) Government revenue (% of GDP) Net lending/borrowing (% of GDP) Afghanistan (2020) 29.508 27.049 -2.460 Albania 31.390 27.618
By 2000, the United States had established a US$8,000 lead over Canada. The situation deteriorated further after a 2014-15 shock in oil prices, with Canadian per-capita real GDP growing at just 0.4% annually, compared to the 1.4% average of surveyed advanced economies.
In 1970, the United States government spent just over $80 billion on national defense. Over the next two decades, national defense spending increased steadily to around $300 billion per year. [ 11 ] Military spending fell in the 1990s, but increased markedly in the 2000s as a result of the War in Afghanistan and Iraq .