BC’s Projected Deficit Grows Again to $9.4 Billion in Latest Fiscal Update

BC’s Projected Deficit Grows Again to $9.4 Billion in Latest Fiscal Update
New Finance Minister Brenda Bailey shakes hands with Lt.-Gov. Janet Austin during the swearing-in ceremony at Government House in Victoria, on Nov. 18, 2024. The Canadian Press/Chad Hipolito
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British Columbia’s forecasted record deficit for this fiscal year has grown by another $429 million, reaching $9.4 billion.

The province unveiled the latest quarterly update, the first under new Finance Minister Brenda Bailey, showing B.C.’s debt level to reach $130 billion by the fiscal year’s end, which is $1.4 billion higher than September’s projections.