No balanced budget for Quebec in next five years: finance minister
Quebec Finance Minister Eric Girard. (File: THE CANADIAN PRESS/Jacques Boissinot)
MONTREAL -- The financial strain caused by the COVID-19 pandemic could keep Quebec from balancing its budget for the next five years, according to the province's Finance Minister.
Eric Girard delivered the sobering news on Monday during a parliamentary study session on the state of Quebec's public finances. The session was held at the request of the opposition parties.
He said the Legault government doesn't envisage a return to balanced budgets before 2025-2026.
In terms of public finances, Girard said 2021 “will be difficult,” especially the next six months.
He reiterated that the deficit for the current year is expected to reach a historic high of $15 billion.