COVID-19: Canada coronavirus measures push deficit to record $382b ...United Arab Emirates

Ottawa: Canada’s budget deficit is projected to balloon to a record 382 billion Canadian dollars (Dh1 billion) as government spending skyrockets to combat the spread of the novel coronavirus, the finance minister announced Monday. The amount for the 2020-2021 fiscal year, which began on April 1, is higher than an estimate of $343 billion announced in July and almost 20 times higher than the shortfall in the last budget released in March 2019, before the pandemic. Finance Minister Chrystia Freeland also said the government was preparing to spend another $70 billion to $100 billion over three years to jolt the economy once the pandemic is over. The aim, she said, is to build back the economy

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