Quebec finance minister to present an economic statement on Thursday

Quebec Finance Minister Eric Girard, holds a copy of his 2024 budget during a press conference in Longueuil, Que., Monday, March 11, 2024. (Christinne Muschi / The Canadian Press)

Finance Minister Eric Girard will give an update on Quebec's public finances on Thursday morning when he presents an economic statement.

Girard is expected to announce a tightening of spending, given the record $11 billion deficit forecast in this year's budget.

A few weeks ago, the minister reiterated that the purpose of the exercise is to “give an overview of the state of public finances and the economy,” in addition to “responding to priority issues.”

Girard will meet journalists at 11 a.m. in Quebec City to give an update on the province's financial situation.

In his November 2023 economic update, the minister announced additional investments in housing, food banks, transport companies, the fight against homelessness and climate change, among other things.

• WATCH: Finance Minister Eric Girard on Quebec's historic budget deficit

Four months later, however, he announced a record deficit of $11 billion and said he wanted to table a plan to return to balanced budgets when the next budget was published, for 2025-2026.

This report by The Canadian Press was first published in French on Nov. 21, 2024.