Finance Minister says B-C has lower-than-projected deficit

Finance Minister Selina Robinson says B-C has a lower-than-projected deficit of 5.5-billion dollars, despite the impacts of the COVID-19 crisis.

Robinson updated B-C’s public accounts, saying the strength of B-C’s economy and residents’ resilience helped keep provincial finances on more stable ground.

She says some sectors fared better than others during the pandemic, helping to keep a lid on the year-end deficit that’s 2.7-billion dollars lower than was projected.

Overall, B-C’s expenses increased by 8.6-billion dollars in the last year, primarily due to spending on health, community supports, education and social services — while revenues climbed 3.5-billion dollars over the same period.