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BC Finance Minister forecasting 12.5 billion dollar deficit due to COVID-19
BY , Jul 14, 2020 9:35 PM - REPORT AN ERROR
File - BC Finance Minister Carole James is forecasting the province will run up a 12.5-billion dollar deficit this fiscal year due to the COVID-19 pandemic. (The Canadian Press)
BC Finance Minister Carole James is forecasting the province will run up a 12.5 billion dollar deficit this fiscal year due to the COVID-19 pandemic.
That's a sharp reversal from the balanced budget James predicted before COVID-19 hit.
She says the province has lost more than 230,000 jobs and seen a staggering decline in economic growth since February.
That includes a 15.9 per cent drop in retail sales due to lockdowns ordered in March to flatten the curve of the pandemic that are now being gradually lifted.
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