Borrowing & Debt History
Borrowing History
The Province monitors international capital markets for
cost-effective borrowing opportunities. Since 1990, the Province has
borrowed in different currencies, across Canadian, U.S., European
and other markets.
Net-Debt to GDP
Per Cent
Sources: Ontario Financing Authority and Ontario Ministry of
Finance
Debt
The Province's Net Debt and Surplus/Deficit balances from fiscal
year 2003–04 are indicated below.
Additional Sources of Historical Information
- Ten-Year Review of Selected Financial and Economic Statistics From
2013 Ontario Budget
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Annual Long-Term Public Borrowing Program by Currency
|
Fiscal Years 2003-04 to 2012–13 ($ Millions) |
||||||||||
| Currency | 2012-13 | 2011-12 | 2010-11 | 2009-10 | 2008-09 | 2007-08 | 2006-07 | 2005-06 | 2004-05 | 2003-04 |
| Canadian dollar | 26,389 | 28,366 | 23,483 | 21,392 | 18,989 | 15,379 | 14,189 | 19,774 | 18,360 | 20,728 |
| U.S. dollar | 10,192 | 6,188 | 11,135 | 16,027 | 6,552 | 2,593 | 4,093 | 2,591 | 5,601 | 2,766 |
| Japanese yen | - | - | 1,507 | - | 191 | - | - | - | - | 114 |
| U.K. pound sterling | - | - | 586 | - | 385 | - | - | - | 487 | - |
| Swiss franc | - | - | 372 | 1,148 | 851 | - | - | 390 | 255 | 307 |
| New Zealand dollar | - | - | - | - | - | - | - | 867 | - | - |
| Euro | - | - | 1,685 | 5,194 | 1,601 | - | - | - | - | 1,188 |
| Australian dollar | - | 234 | 272 | - | - | 263 | 118 | 139 | 89 | |
| Hong Kong dollar | - | - | 204 | 48 | 154 | - | - | - | - | 87 |
| South African rand | - | - | - | - | - | - | 92 | 107 | - | - |
| Norwegian krona | - | 89 | 685 | - | - | - | - | - | - | - |
| Turkish Lira | - | - | - | - | - | - | 58 | - | - | - |
| Total | 36,581 | 34,877 | 39,928 | 43,809 | 28,723 | 17,972 | 18,695 | 23,847 | 24,842 | 25,279 |
Source: Ontario Financing Authority
Note: Includes long-term borrowing for OEFC
Note: Includes long-term borrowing for OEFC
Net Debt and Interest on Debt
|
Fiscal Years 2003-04 to 2012-13 ($ Millions) |
||||||||||
| Actual | ||||||||||
|
2012-13 Interim |
2011-12 | 2010-11 | 2009-10 | 2008-09 | 2007-08 | 2006-07 | 2005-06 | 2004-05 | 2003-04 | |
| Net Debt | 252,790 | 235,582 | 214,511 | 193,589 | 169,585 | 156,616 | 153,742 | 152,702 | 140,921 | 138,816 |
| Interest on Debt | 10,372 | 10,082 | 9,480 | 8,719 | 8,566 | 8,914 | 8,831 | 9,019 | 9,368 | 9,604 |
| Accumulated Deficit | 168,192 | 158,410 | 144,573 | 130,957 | 113,238 | 105,617 | 106,776 | 109,155 | 125,743 | 124,188 |
Sources: Ontario Financing Authority and Ontario Ministry of
Finance Budget 2013.
Notes:
- Net Debt represents the difference between total liabilities and total financial assets of the Province.
- Net Debt has been restated to include Broader Public Sector net debt starting 2005–06.
- All balances are expressed in Canadian dollars.
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