RBC Financial Strategy and Performance
Canada's fiscal position
☐
Strong rating as a result of fiscal prudence, conservative bank lending practices and solid economy
■ Lowest net debt to GDP ratio among G7 peers (1)
■ Growth in the economy has slowed in part due to transitory disruptions to activity in the energy sector, but
also because of rising interest rates and limited remaining slack in the economy. GDP is expected to
increase at a more moderate pace in 2019 and 2020.
Net Debt as % of GDP (1)
(2017)
Canadian GDP by Industry (2)
(Nov 2018)
27.7
44.9
Canada
Germany
U.K.
77.9
U.S.
78.8
85.8
G7
Average
France
87.5
Italy
119.5
Japan
154.9
8%
8%
5%
5%
13%
20%
9%
12%
11%
■Finance, Insurance & Real
Estate
■Manufacturing
■ Wholesale and Retail Trade
Scientific, Technical &
Educational Services
■Public Administration and
Utilities
■Mining, Oil & Gas Extractions
■Construction
10%
■ Health Care
■Transportation, Warehousing
Economic Backdrop
(1) Net debt refers to General Government net debt. International Monetary Fund October 2018 Fiscal Monitor. (2) Statistics Canada, RBC Economics Research.
■ Other
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