The Ontario Dept Clock depicts the “net debt” from the 2018 Ontario Budget. According to the Ontario Financing Authority, the province owes $326 billion, which is equivalent to about $22,500.00 per Ontarian!
However, the Ontario deficit is increasing by over $500.00 every second and is expected to increase to a total of $348.79 billion during this fiscal year.
On average, Ontario is shouldering more debt now than at any other point in its history. As of March 31, 2018, the breakdown of Ontario’s debt is as follows:
Canadian Dollar Public Bonds: $259.4B (74%)
Foreign Currency Bonds: $56.4B (16%)
Canadian Dollar Treasury Bills: $18.9B (5%)
Canadian Dollar Non-Public Debt: $11.4B (3%)
US Dollar Commercial Paper: $2.6B (1%)
It is important to spread awareness about Ontario’s increasing debt in order to educate people across the province. People need to know the financial state of their province. FPM3 has made it easy for companies to add the debt clock to their websites. In just two simple steps, you can add the live Ontario Debt Clock to your website.