British Columbia halves 2021-22 deficit forecast to C$4.8 billion

·1 min read
FILE PHOTO: The West End is seen on the mountain-backed skyline of Vancouver

By Moira Warburton

VANCOUVER (Reuters) - The Canadian province of British Columbia is cutting its projected deficit for the 2021-22 fiscal year in half, to C$4.8 billion ($3.8 billion) from the C$9.7 billion projected in the province's budget released earlier this year, the government announced on Monday.

The improved outlook is thanks to a stronger-than-expected economic recovery, Finance Minister Selina Robinson said in a statement.

The province's gross domestic product (GDP) is expected to grow by 6% in 2021 and 4% in 2022, the statement added.

($1 = 1.2660 Canadian dollars)

(Reporting by Moira Warburton in Vancouver; Editing by Cynthia Osterman)

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