July 14, 2020 / 7:44 PM / a month ago

British Columbia province forecasts C$12.5 bln operating deficit in 2020/21

July 14 (Reuters) - The Canadian province of British Columbia is forecasting a C$12.5 billion ($9.2 billion) operating deficit in 2020/21, the province’s finance minister, Carole James, said on Tuesday.

James attributed the estimated deficit to the government’s emergency spending to support the businesses and individuals suffering from COVID-19 lockdowns and a significant drop in revenues due to the pandemic.

$1 = 1.3624 Canadian dollars Reporting by Moira Warburton in Toronto Editing by Chris Reese

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