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British Columbia province forecasts C$12.5 billion operating deficit in 2020/21

imageEconomic Indicators8 hours ago (Jul 14, 2020 03:55PM ET)

(C) Reuters. Parq Casino in Vancouver

(Reuters) – The Canadian province of British Columbia is forecasting a C$12.5 billion ($9.2 billion) operating deficit in 2020/21, the province’s finance minister, Carole James, said on Tuesday.

James attributed the estimated deficit to the government’s emergency spending to support the businesses and individuals suffering from COVID-19 lockdowns and a significant drop in revenues due to the pandemic.

British Columbia province forecasts C$12.5 billion operating deficit in 2020/21

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