Free Trial

MNI BRIEF: Canada Budget Office Says Govt Deficits Understated

OTTAWA (MNI)

Canada's independent parliamentary budget officer said Thursday the government's recent fiscal update may be understating deficits, and the plan to offer an extra CAD100 billion of stimulus may come too late after the job market has recovered.

The PBO's estimated deficit for fiscal 2022-23 of CAD58.1 billion is CAD7.4 billion wider than the government's projection, a trend that persists over the next three years. The PBO report said the differences are based on different assumptions about the economy over that time.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.