Quebec Tables $12.3 Billion Deficit Budget, Says Balance Will Take Another 6 Years

Quebec Finance Minister Eric Girard displays his budget speech and a pair of new running shoes outside a store, on the eve of a provincial budget speech, on March 24, 2021 in Quebec City. Jacques Boissinot/The Canadian Press

Quebec needs to make up the economic ground lost during the pandemic before it can balance its books, which will take another six years, Finance Minister Eric Girard said Thursday.

Girard tabled his third budget since becoming finance minister, and he forecasts a deficit of $12.3 billion this fiscal year. He also estimates the damage caused by the pandemic will leave a structural deficit of $6.5 billion.