British Columbia projects C$9.7 bln deficit in 2021-22

The Canadian province of British Columbia expects its 2021-22 budget deficit to reach C$9.7 billion ($7.69 billion), after closing the last financial year with a projected deficit of C$8.1 billion, budget documents released on Tuesday showed.

The Canadian province of British Columbia expects its 2021-22 budget deficit to reach C$9.7 billion ($7.69 billion), after closing the last financial year with a projected deficit of C$8.1 billion, budget documents released on Tuesday showed. The projected deficit for 2020-21 is lower than the previous estimate of C$13.6 billion, the documents showed.

The budget proposes C$67.6 billion in overall spending in the current financial year, including C$3.3 billion in pandemic recovery measures, and assumes a real GDP growth of 4.4%, the documents showed. ($1 = 1.2574 Canadian dollars)