Ottawa’s deficit is projected to be just under $50 billion this year. According to the latest projections, it’s set to remain above $20 billion until at least 2030.
The risk is undoubtedly to the downside. The uncertainty caused by the threat of U.S. tariffs and now the fallout from their imposition will lower the GDP projections underpinning the government’s fiscal plan. It’s quite likely therefore that the deficit will be higher—particularly this year and next year.
