The paper finds that there is an intimate relationship between the monetary / fiscal policy mix and the dynamics of both private sector and public sector debt accumulation. (bankofcanada.ca)
Credit growth on that scale is not easy to achieve, especially given stagnant wages, the already high level of private sector debt and, now, increasing interest rates. (richardduncaneconomics.com)
Given the fiscal situation of the provinces, it is highly unlikely that the elimination of the total government sector debt will be achieved in 2021. (3dpolicy.ca)