Federal Finance Minister Bill Morneau has delivered a sobering fiscal snapshot that projects a $343.2-billion deficit this year.
That’s thanks in large part to fiscal programs and measures taken to address the economic impact of COVID-19.
The federal debt could exceed $1.2-trillion by the end of the fiscal year.
Morneau indicated that Ottawa will invest in a “greener and more diverse” economy.
The local oil industry has been hard hit by the pandemic and reduced global demand and had been seeking government incentives to encourage exploration.
Read the complete document, and find Minister Morneau’s speech at this link.
