Federal deficit likely now at $260 billion due to COVID-19, PBO says

By Canadian Press
$40.33 billion going to 8.21 million people through the Canada Emergency Response Benefit

Parliament’s spending watchdog said the estimated deficit for the year has likely risen to about $260 billion, leaving the government with little fiscal firepower to stimulate an economic rebound. Budget officer Yves Giroux previously estimated the federal deficit at $252.1 billion this fiscal year on account of a sharp increase in spending on emergency aid and a subsequent drop in economic activity related to the COVID-19 pandemic.…

• Whistler News

May 27, 2020

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