EDMONTON The number of Canadians on the brink of financial insolvency has reached a five-year high, with more than half of people $200 or less away from being unable able to meet their financial obligations each month, according to a recent survey. As pandemic-related financial support and loan deferral programs slow down and ongoing economic disruptions impact household incomes, 30 per cent of Canadians say they are already insolvent, with no money left at the end of the month to cover their payments, according to the latest MNP Consumer Debt Index. “We saw that pandemic-related financial relief measures provided some breathing room over the last year, but now we’re seeing a reversal,” Grant Bazian, president of MNP Ltd., said in a press release.
When the stimulus stops: Economic danger points to watch when the punchbowl is pulled away
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When the stimulus stops: Economic danger points to watch when the punchbowl is pulled away
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When the stimulus stops: Economic danger points to watch when the punchbowl is pulled away
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