Questionnaire: federal spending
Castanet staff – Ti 31, 2021 / 19:15 | Story: 329733
Photo: The Canadian Press
Parliamentary oversight notes that the federal response to the COVID-19 pandemic is causing a deficit of $ 363.4 billion.
Budget manager Yves Giroux says in his report this morning that the deficit should fall over time as emergency measures end over the next 12 months.
The economy is also much better than Giroux anticipated, and his office has revised its economic growth forecasts for the second half of this year.
As the economy performs better than expected and the deficit shrinks over time, the budget office expects the federal economy to be sustainable again.
The economy could also be boosted by the fiscal stimulus promised by the Liberals, worth $ 70-100 billion over three years and outlined in this year’s federal budget.
Giroux’s outlook does not take these expenditures into account because there are no details of their use, but he warns that it would lead to larger deficits that could rotate uncontrollably depending on how the consumption is financed.
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