Economic Backdrop and Financial Performance Objectives
Canada's strong fiscal position
Strong rating as a result of fiscal prudence, conservative bank lending practices and a solid economy
■ Lowest net debt-to-GDP ratio among G7 peers(1)
Net Debt as % of GDP (1)
(2024 forecast as of October 2023)
Canadian GDP by Industry (2)
(November 2023)
14.6
45.7
99.6
100.1
100.7
93.1
132.5
158.5
8%
རྩ ༔ ཎྱེ་ཚ་ཟླ་ཕ་ཟ་ཟླ
8%
6%
4%
11%
21%
10%
13%
10%
■Finance, Insurance & Real
Estate
■Manufacturing
■ Wholesale and Retail Trade
■Scientific, Technical &
Educational Services
■Public Administration and
Utilities
Mining, Oil & Gas Extractions
■Construction
11%
■Health Care
■Transportation, Warehousing
(1) Net debt refers to General Government net debt. International Monetary Fund October 2023 World Economic Outlook database. (2) Statistics Canada, RBC Economics.
40 | ECONOMIC BACKDROP
Other
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