Over the past decade, Canada's financial situation has worsened more rapidly

The Fraser Institute is a Canadian public policy think tank, which is widely recognized for its research on economic, social, and political issues. If the Fraser Institute reported that Canada's finances have deteriorated faster than any country in the G7 over the last decade and that Canada added 25.23% gross debt to GDP in the 10 years under Prime Minister Justin Trudeau's leadership, it is likely based on an analysis of publicly available financial data and economic indicators.

To provide context, the G7, or Group of Seven, consists of Canada, the United States, Japan, the United Kingdom, Germany, France, and Italy, as well as the European Union. The statement suggests that Canada's fiscal health, as measured by its debt-to-GDP ratio, has declined more rapidly than that of its G7 peers during the specified period.

The increase in debt-to-GDP ratio can be influenced by various factors, such as economic growth, fiscal policies (e.g., government spending and taxation), and interest rates. The COVID-19 pandemic, which began in 2020, has significantly impacted the economies and fiscal positions of all G7 countries, including Canada, due to the need for substantial government spending to support public health responses and economic relief measures.

It's important to note that while an increase in debt-to-GDP ratio can be a cause for concern, it is just one of many indicators of a country's economic health. Other factors, such as debt sustainability, economic growth potential, and the ability to service debt, also play a crucial role in assessing a country's fiscal situation. Moreover, comparing Canada's fiscal performance with other G7 countries requires considering unique national circumstances and economic policies implemented by each country.

For the most accurate and up-to-date information, it would be best to refer to the latest reports and analyses from the Fraser Institute and other reputable economic sources. Additionally, examining data from organizations like the International Monetary Fund (IMF), the World Bank, or the Organization for Economic Co-operation and Development (OECD) can provide a more comprehensive view of Canada's fiscal health relative to other countries in the G7. Reporting by Tablesalt.