Federal Deficit – Hate to Say I Told You So

 

From My Email Update Friday April 10/2020

It is conceivable the federal budget deficit this current year (April 1, 2020 – March 31, 2021), when these massive expenditures are combined with a significant drop in revenue, could equal or exceed the entire $350 billion budget of the just completed fiscal year 2019-20. It is also likely that once this fiscal year has ended Canada’s total federal debt will surpass $1 trillion.

Despite that somewhat gloomy prediction, I want to wish Albertans a safe long Easter weekend and ask that all health regulations are adhered to so we can get past this pandemic and return to some form of normality this summer.

As Announced Today:

Fiscal update: Morneau projects $343.2-billion deficit; federal debt to climb above $1-trillion