Skip to main content

Huge deficit but more spending still to come

The government confirmed today that it is allocating additional funds to various COVID-19 related programs that will cause the deficit to widen to $343bn this fiscal year, or 16% of GDP. And with Finance Minister Bill Morneau also hinting that the government will now turn its attention to measures to help secure the recovery further down the line, the deficit may remain wider than we anticipated in 2021.

Become a member to read more

This is premium content that requires an active Capital Economics subscription to view.

Already a member?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access