Canada lost its outstanding credit rating due to the Corona Virus crisis after Fitch Ratings lowered its rating from AAA to AA +, becoming the first country to lose the outstanding credit rating.
According to Arabia Net, the agency expected that the budget deficit would increase significantly during the current year, and that the proportion of public debt would rise to 115% to the GDP in 2020, Up from 88% over the past year.
The Canadian government announced a $ 170 billion stimulus plan, by providing subsidies, grants, and tax cuts, in an effort to advance the economy.
