MONTREAL (Reuters) – Canada’s Quebec will put up a history C$14.9 billion ($11 billion)deficit through fiscal 2020-2021, as the province spent extra to combat the coronavirus pandemic and though going through a 9% reduce in very own-supply revenues, Finance Minister Eric Girard mentioned on Friday.
Quebec, the country’s hardest strike province by the pandemic, spent additional than C$6.6 billion on economical assistance to mitigate the effect of coronavirus and expects an estimated reduce of C$8.5 billion in have-source revenues all through fiscal 2020-2021.
The fiscal yr runs from April to March.
Quebec’s true GDP is projected to agreement by 6.5% in calendar 2020, as opposed with the March budget, which banked on progress of 2%.
Fusion Media or any person involved with Fusion Media will not settle for any legal responsibility for reduction or hurt as a end result of reliance on the facts such as details, estimates, charts and acquire/sell signals contained inside of this internet site. Remember to be fully educated concerning the threats and prices related with buying and selling the financial marketplaces, it is a single of the riskiest expense sorts doable.
More Stories
[PHOTOS] He mysteriously disappeared five years ago: “We will never forget you,” his mother said
$30B Revenue: How Nvidia Is Changing Our Lives With Artificial Intelligence
SpaceX Falcon 9 rockets crashed after the incident