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Ontario's Borrowing Program


Ontario's 2025–26 Borrowing Program

($ Billions) 2025–26
2025 Budget Change from 2025 Budget Current Outlook
Deficit/(Surplus) 14.6  –  14.6 
Provincial Investment in Capital Assets 23.1  –  23.1 
Amortization of Capital Assets (9.1) –  (9.1)
Non-Cash and Cash Timing Adjustments (3.1) –  (3.1)
Net Loans and Investments 1.2  –  1.2 
Debt Maturities and Redemptions 33.1  –  33.1 
Total Funding Requirement 59.8  –  59.8 
Decrease/(Increase) in Short-Term-Borrowing (5.0) –  (5.0)
Increase/(Decrease) in Year-End Cash and Cash Equivalents (12.0) –  (12.0)
Total Long-Term Public Borrowing 42.8  –  42.8 
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Note: Numbers may not add due to rounding.
Source: Ontario Financing Authority.

2025–26 Borrowing Program Status

Total Long-Term Public Borrowing
$42.8B

As of

Note: Numbers may not add due to rounding.

Domestic and International Borrowing

As of

Weighted-Average Borrowing Term (Years) 12.1 8.6 8.1 12.8 13.0 12.4 13.6 14.1 14.2 13.9 12.1 12.9 14.5 12.0 14.5 15.0 15.2 14.1 14.3
Note: Numbers may not add due to rounding.
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Accessible description of chart: Domestic and International Borrowing

Short-Term Borrowing Capacity

($ Billions) C$ T-Bill Program U.S.$ Commercial Paper Program Total
Currency Canadian Dollars U.S. Dollars –
Maturity 1 day-3 years* 1-270 day(s) –
Authorized C$46.0 C$15.0 C$61.0
Outstanding C$22.9 C$10.5 C$33.5
Available C$23.1 C$4.5 C$27.5
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*Regular issuance of 3M, 6M and 1Y T-Bills
As of August 29, 2025.
Note: Numbers may not add due to rounding.