COVID-19 pandemic affecting government finances for the fiscal year including an estimated deficit and a projected path for the economy.Finance Minister Bill Morneau is to release what the government has styled a fiscal and economic snapshot.
Ottawa’s coronavirus deficit will take ‘many, many years’ to pay down: economist The Liberals have regularly updated MPs about total spending on emergency aid, which by last count amounted to over $174 billion, but have yet to put a figure on the deficit for the fiscal year.The parliamentary budget office has suggested the deficit could be as deep as $252 billion.Other private sector estimates suggest $300 billion wouldn’t be out of the realm of possibility.Opposition parties have said they expect.