B.C.’s Budget Surges to $12.5 Billion Deficit Due to Pandemic

Two people wearing personal protective equipment, including respirators and coverall suits in-line skate on the seawall at Stanley Park in Vancouver on April 5, 2020. Darryl Dyck/The Canadian Press

VICTORIA—British Columbia’s balanced budget has been shattered by the COVID-19 pandemic, with the province forecasting a deficit of $12.5 billion for 2020-21.

Finance Minister Carole James says the numbers are staggering with a predicted GDP decline of 6.8 percent, retail sales down 15.9 percent and job losses of 235,000 since February.