COVID-19 pandemic leaves Quebec with $15 billion deficit for 2020-2021 fiscal year

The Quebec government expects the impact of the COVID-19 pandemic will leave it with a $15-billion deficit this fiscal year.

The province will remain in the red in 2021-2022, with a forecast deficit of $8 billion.

Quebec Finance Minister Eric Girard is presenting an economic update this afternoon revealing the extent of the damage COVID-19 has done to the province’s finances.

READ MORE: Quebec adds 1,365 coronavirus cases, 42 additional deaths as hospitalizations rise

Get daily National news

Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day.

Sign up for daily National newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

Last month, Girard told a legislature committee that the government didn’t plan to table a balanced budget before 2025.

In the budget he presented in March just before the pandemic, Girard had forecast Quebec’s economy would grow this fiscal year by about 2 per cent.

The update comes the same day the Montreal released its budget — which is balanced.

1:12 Coronavirus: Quebec premier considering closure of schools amid rising COVID-19 cases