1219 ET Canada’s Parliamentary Budget Office forecasts the federal budgetary deficit to rise to C$46.5 billion, or 1.6% of GDP, in the current fiscal year. Its latest baseline projection, aimed at helping lawmakers gauge potential economic and fiscal outcomes under current policy settings, expects the budgetary deficit will resume its downward trajectory, assuming no new measures are introduced and existing temporary measures “sunset” as scheduled, falling to C$8.2 billion, or 0.2% of GDP, in 2028-29. The office projects the federal debt-to-GDP ratio will rise to 42.6% in 2023-24, then fall to 37.8% in 2028-29, but remain above the 2019-20 pre-pandemic level of 31.2%. ([email protected]; @RobbMStewart)
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