Quebec debt underestimated by $12B, auditor general says

Quebec’s auditor general says the province has underestimated the size of its debt by $12 billion.

Guylaine Leclerc told a legislative committee Friday she plans to table a report on the situation in March.

She says her upcoming report will clearly explain to Quebecers why she feels the province’s debt is being underestimated by the government.

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Leclerc says the situation is akin to someone receiving a credit card bill and saying the minimum payment is all they owe.

Quebec’s Finance Department estimates the province’s gross debt will be $220.8 billion by March 31, or 50.5 per cent of GDP.

Leclerc also told the committee her office may investigate the no-bid contracts that were awarded by the government during the pandemic.

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