2 0 1 0 ▁to ▁ 2 0 1 3 – 2 0 1 4 , ▁the ▁amount ▁of ▁the ▁Canadian ' s ▁deb t ▁held ▁by ▁foreign ▁invest ors ▁passed ▁from ▁ 1 5 % ▁to ▁ 2 7 % ▁with ▁a ▁peak ▁at ▁ 3 0 % ▁in ▁ 2 0 1 2 – 2 0 1 3 . ▁Even ▁if ▁growing , ▁this ▁level ▁is ▁still ▁lower ▁than ▁or ▁compar able ▁to ▁most ▁G 7 ▁countries ▁in ▁ 2 0 1 3 - 2 0 1 4 ▁( France , ▁ 6 4 %, ▁Germany , ▁ 6 2 %, ▁United ▁States , ▁ 4 8 %, ▁Italy , ▁ 3 3 %, ▁United ▁Kingdom , ▁ 2 9 %, ▁and ▁Japan , ▁ 8 %). ▁ ▁Ch anges ▁of ▁deb t : ▁Ex plan ations ▁▁ ▁R ise ▁of ▁the ▁national ▁deb t ▁is ▁mainly ▁due ▁and ▁correl ated ▁to ▁the ▁rise ▁of ▁provincial ▁deb t . ▁Indeed , ▁between ▁ 2 0 0 8 ▁and ▁ 2 0 1 5 , ▁federal ▁deb t ▁increased ▁by ▁about ▁ 3 4 % ▁whereas ▁the ▁provincial ▁deb t ▁increased ▁by ▁almost ▁ 8 7 %. ▁▁ ▁At ▁the ▁provincial ▁level , ▁progress ▁on ▁fis cal ▁cons olid ation ▁has ▁been ▁mixed ▁and ▁cont ing ent ▁li abilities ▁lo om ▁on ▁the ▁horizon . ▁Quebec ▁and ▁BC ▁have ▁made ▁tang ible ▁progress ▁in ▁generating ▁a ▁sur plus ▁operating ▁balance ▁to ▁reduce ▁net ▁deb t . ▁Ontario ▁recently ▁achieved ▁a ▁bal anced