Canada's Fiscal Deficit Hits Record C$354Bln - Budget

TORONTO (Pakistan Point News / Sputnik - 20th April, 2021) Canada's budget deficit stands at $282.67 billion (354 billion Canadia dollars) in the 2020-21 fiscal year amid record spending in response to the novel coronavirus pandemic, the country's 2021 Federal budget revealed.

On Monday, Canada's Deputy Prime Minister and Finance Minister, Chrystia Freeland, delivered the country's first budget since March 19, 2019.

"We predicted a deficit for 2020/2021 of up to C$382 billion Dollars [$312.84 billion USD]... our deficit for 2020-2021 is C$354.2 billion [$282.67 billion USD], significantly below our forecast," the document said.