Budget officer Yves Giroux previously estimated the federal deficit at $252.1 billion this fiscal year on account of a sharp increase in spending on emergency aid and a subsequent drop in economic activity related to the COVID-19 pandemic.
Parliamentary Budget Officer Yves Giroux waits to appear before the Commons Finance committee on Parliament Hill in Ottawa on March 10, 2020.
Parliament's spending watchdog says the estimated federal deficit for the year has likely risen to about $260 billion with new spending measures rolled out in recent weeks. Budget officer Yves Giroux made the comment during an appearance before a Senate committee, which will hear from Bank of Canada governor Stephen Poloz later today. THE CANADIAN PRESS/Adrian Wyld.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal deficit likely now at $260 billion due to COVID-19, PBO saysParliament's spending watchdog says the estimated federal deficit for the year has likely risen to about $260 billion with new measures rolled out in recent weeks.
Read more »
Air Canada, Transat deal faces intense EU antitrust scrutinyEuropean regulators say the deal may result in higher prices and less choice for flights between Europe and Canada
Read more »
Opinion: Canada must divide its military resources along foreign and domestic linesRegular force members should be optimized for activities beyond our borders, while reserves are directed to roles at home
Read more »
What's Coming And Going From Netflix Canada In JuneWe all really need a new season of 'Queer Eye' at a time like this.
Read more »
Globe editorial: Canada, and the world, must stand up to China’s latest attack on Hong KongChina’s ruling party has cooked up a new recipe for putting the semi-autonomous territory under the thumb of its national security state
Read more »