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

Credit: REUTERS/Kevin Light

July 14 (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.

($1 = 1.3624 Canadian dollars)

(Reporting by Moira Warburton in Toronto Editing by Chris Reese)

((Moira.Warburton@thomsonreuters.com; 416-687-7996; 437-771-3124;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.