Even with low rates, interest payments on Canada’s $1-trillion-plus national debt will increase by almost 60% this year, predicts a new study by the Fraser Institute.
“Interest costs rise from a budgeted $22.1 billion in 2021-22 to $35.2 billion, an increase of 59.4%” says the report, Interest Cost Risks to Government Budgets, by Jason Clemens, Milagros Palacios and Jake Fuss, released Tuesday.
