The budgetary situation in Quebec is ultimately better than what had been envisaged during the last financial year, published in March.
The preliminary deficit for the year 2024-2025 is $ 7.3 billion, some 3 billion less than the 10.4 billion envisaged in the last budget.
This sum, the exact value of which will be known in the fall, is equivalent to 1.2% of GDP.
“The financial situation for the year 2024-2025 is positively revised thanks to an increase in revenues of almost $ 1 billion and a decrease in spending growth from 7.7% to 6.2%. Our objective remains the return to the balanced budget by 2029-2030 and we are continuing the plan started since the 2024-2025 budget to achieve this, “read a press release published by the Cabinet of the Minister of Finance of Quebec on Friday.
The accounting deficit for 2024-2025 is for its part of $ 4.9 billion dated June 18, which represents an improvement of 3.2 billion compared to the deficit of 8.1 billion provided for in the budget of March 2025.
The final results of the financial year 2024-2025 will be presented this fall in the Public accounts 2024-2025.
