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Canada’s deficit could reach $256B due to coronavirus spending, economic effects: PBO
COVID-19 pandemic.The result, posted this morning, is the combination of an estimated total of $169 billion in federal spending on emergency aid and a historic drop in economic output.The budget office estimates the economy could shrink by 6.8 per cent in 2020, the weakest showing since 1981 and double the record of 3.2 per cent shrinkage in 1982.