Just weeks before the federal government is set to table the budget, the country’s fiscal outlook has Canada “at the precipice,” according to interim parliamentary budget officer Jason Jacques.
In the latest economic and fiscal outlook, Jacques estimates the Liberals will post an annual deficit of $68.5 billion this year, up from $51.7 billion dollars last year. The interim PBO also projects that the federal debt-to-GDP ratio — one of the government’s fiscal anchors — will increase over the medium-term, and remain above its pre-pandemic level.
