Borrowing & Debt
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 Fall Economic Statement
2011-2012
Debt
The Province's Net Debt and Surplus/Deficit balances from fiscal year 2001–02 are indicated below.
Additional Sources of Historical Information
- Ten-Year Review of Selected Financial and Economic Statistics
From 2011 Ontario Economic Outlook and Fiscal Review
Download Formats: PDF
–
HTML
Annual Long-Term Public Borrowing Program by Currency
| Fiscal Years 2002-03 to 2011–12 ($millions) |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 2011-12* | 2010-11 | 2009-10 | 2008-09 | 2007-08 | 2006-07 | 2005-06 | 2004-05 | 2003-04 | 2002-03 |
| Canadian dollar | 18,163 | 23,483 | 21,392 | 18,989 | 15,379 | 14,189 | 19,774 | 18,360 | 20,728 | 10,243 |
| U.S. dollar | 5,839 | 11,135 | 16,027 | 6,552 | 2,593 | 4,093 | 2,591 | 5,601 | 2,766 | 5,573 |
| Japanese yen | - | 1,507 | - | 191 | - | - | - | - | 114 | - |
| U.K. pound sterling | - | 586 | - | 385 | - | - | - | 487 | - | - |
| Swiss franc | - | 372 | 1,148 | 851 | - | - | 390 | 255 | 307 | - |
| New Zealand dollar | - | - | - | - | - | - | 867 | - | - | 209 |
| Euro | - | 1,685 | 5,194 | 1,601 | - | - | - | - | 1,188 | 645 |
| Australian dollar | 234 | 272 | - | - | 263 | 118 | 139 | 89 | 90 | |
| Hong Kong dollar | - | 204 | 48 | 154 | - | - | - | - | 87 | - |
| South African rand | - | - | - | - | - | 92 | 107 | - | - | - |
| Norwegian krona | 90 | 685 | - | - | - | - | - | - | - | - |
| Turkish Lira | - | - | - | - | - | 58 | - | - | - | - |
| Total | 24,326 | 39,928 | 43,809 | 28,723 | 17,972 | 18,695 | 23,847 | 24,842 | 25,279 | 16,760 |
Source: Ontario Financing Authority
Note:
Includes long-term borrowing for OEFC
*As at November 15, 2011
Net Debt and Interest on Debt
| Fiscal Years 2002-03 to 2011-12 ($millions) |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Actual | ||||||||||
| 2011-12 Outlook | 2010-11 | 2009-10 | 2008-09 | 2007-08 | 2006-07 | 2005-06 | 2004-05 | 2003-04 | 2002-03 | |
| Net Debt | 238,368 | 214,511 | 193,589 | 169,585 | 156,616 | 153,742 | 152,702 | 140,921 | 138,816 | 132,647 |
| Interest on Debt | 10,097 | 9,480 | 8,719 | 8,566 | 8,914 | 8,831 | 9,019 | 9,368 | 9,604 | 9,694 |
| Accumulated Deficit | 160,567 | 144,573 | 130,957 | 113,238 | 105,617 | 106,776 | 109,155 | 125,743 | 124,188 | 118,705 |
Sources: Ontario Financing Authority and Ontario Ministry of Finance Public Accounts of Ontario 2010-2011
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.
