PBO Sees $363 Billion Deficit, Warns of Pitfalls From Liberals’ Promised Stimulus

Parliamentary Budget Officer Yves Giroux waits to appear before the Commons Finance committee on Parliament Hill in Ottawa on March 10, 2020. The Canadian Press/Adrian Wyld

OTTAWA—Parliament’s spending watchdog says the federal response to the COVID-19 pandemic should send the deficit to $363.4 billion.

In a report this morning, budget officer Yves Giroux says the deficit should fall over time as emergency spending measures wind down over the next 12 months.