▁of ▁about ▁ 2 3 ▁percent . ▁ ▁Deb t ▁comparison ▁with ▁other ▁countries ▁▁ ▁Canada ▁has ▁some ▁fis cal ▁space , ▁general ▁government ▁gross ▁deb t ▁is ▁high ▁compared ▁to ▁its ▁triple ▁A - r ated ▁pe ers ▁( in ▁average ▁ 4 0 %). ▁▁ ▁Canada ' s ▁general ▁government ▁gross ▁deb t ▁is ▁ 8 9 . 7 ▁percent ▁of ▁G DP . ▁If ▁accounts ▁pay able ▁are ▁ex cluded ▁to ▁make ▁it ▁intern ation ally ▁compar able , ▁gross ▁deb t ▁falls ▁to ▁just ▁below ▁ 7 0 ▁percent ▁of ▁G DP , ▁but ▁this ▁is ▁still ▁high ▁among ▁econom ies ▁with ▁A AA ▁ratings . ▁Non eth eless , ▁the ▁general ▁government ▁holds ▁size able ▁financial ▁assets ▁( about ▁ 6 2 ▁percent ▁of ▁G DP ), ▁which ▁includes ▁a ▁broad ▁range ▁of ▁assets ▁( currency ▁and ▁depos its , ▁deb t ▁se cur ities , ▁lo ans , ▁equ ity ▁and ▁invest ment ▁fund ▁shares , ▁and ▁accounts ▁rece iv able ), ▁and ▁net ▁deb t ▁stood ▁at ▁ 2 7 . 8 ▁percent ▁of ▁G DP ▁in ▁ 2 0 1 7 . ▁At ▁the ▁federal ▁level , ▁gross ▁deb t ▁is ▁consider ably ▁lower ▁at ▁ 3 8 ▁percent ▁of ▁G DP . ▁ ▁There ▁are ▁also ▁account ing ▁issues ▁for ▁international ▁compar isons . ▁Indeed , ▁Canada ' s ▁general ▁government ▁deb t ▁includes ▁size able ▁accounts ▁pay able , ▁which ▁many ▁advanced ▁econom ies ▁do ▁not ▁report . ▁If ▁accounts ▁pay able ▁were