Wondering About Canada's Economy?  Read This!

Here are some highlights:

* The Government of Canada posted a budgetary surplus of $9.6 billion in 2007-08. The surplus was $0.6 billion lower than forecast in the February 2008 budget. Budgetary revenues were $2.1 billion lower than forecast while program expenses were $1.7 billion lower than forecast. Public debt charges were $0.2 billion higher than forecast.

* The federal debt stood at $457.6 billion at the end of 2007-08, down $105.2 billion from its peak of $562.9 billion in 1996-97. The federal debt stood at $13,774 for each Canadian, down from $14,215 a year earlier. The federal debt-to-GDP (gross domestic product) ratio is 29.8 per cent, down sharply from its peak of 68.4 per cent in 1995-96, and is now at its lowest level since March 31, 1981.

* Unmatured debt-the debt issued on credit markets to investors-as a percentage of GDP has declined to 25.4 per cent from the peak of 57.7 per cent in 1995-96.

* The share of revenues spent on public debt charges declined from 14.4 per cent in 2006-07 to 13.7 per cent in 2007-08. This is down from a peak of about 38 per cent in 1990-91.