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Quebec lowers fiscal 2021-22 budget deficit forecast to C$6.8 billion on stronger growth -Breaking

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MONTREAL (Reuters) – Quebec, the hardest hit Canadian province at the start of the pandemic, on Thursday revised its fiscal 2021-22 budget deficit forecast downward to C$6.8 billion ($5.4 billion), from a C$12.3 billion deficit projected in March, helped by stronger-than-expected economic growth.

This revision to the province’s GDP projection for 2021 was 6.5%, up from 4.2% in March.

Eric Girard, the Finance Minister of Quebec, announced a C$3.4 billion investment over five years in order to address labor shortages, stimulate the economy, and improve the quality of life for Quebecers.

($1 = 1.2649 Canadian dollars)

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