Deficit of $11 billion and other highlights from Quebec’s 2024-25 budget

Published on March 12, 2024

Quebec Finance Minister Eric Girard on Mar. 12 tabled his sixth budget, with big spending increases for health and education. Here are some highlights. – Deficit of $11 billion, which includes a $1.5-billion contingency reserve and a $2.2 billion payment into a fund dedicated to reducing debt. – Revenues of $150.3 billion, an increase of 2.4 percent; expenditures of $157.6 billion, an increase of 4.4 percent. – Economic growth—real GDP, adjusted for inflation—is expected to rise by 0.6 percent in 2024 and by 1.6 percent in 2025. – Balanced budget no later than 2029-30 fiscal year, but no precise timeline for getting there until next year’s budget. – Two largest expenditures are health care at $61.9 billion, up 4.2 percent, and education at $22.4 billion, up 9.3 percent....

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