Provincial Budgets and Economic Statements

The government boosted its pandemic action plan with more money being allocated to fight the pandemic, support people and businesses, and stimulate the economy

Newfoundland and Labrador has been hit hard by COVID-19 and plummeting oil prices. RBC Economics projects it will experience the deepest contraction of all provinces.

Ontario's deficit is now projected to come in 88% higher than March estimate as revenues are revised $5.7 billion lower and expenses $13.1 billion higher.

Newfoundland and Labrador expect COVID-19 and the the oil sector turmoil to plunge the provincial budget into a deep $2.1 billion deficit.

Despite a significant deficit, B.C. still has one of the lowest debt burdens in Canada. RBC Economics believes it's well-positioned to weather the storm.

Quebec now expects a brutal 6.5% economic contraction and spike in COVID-related spending will swing this year's budget into record deficit

PEI's path to recovery is likely to be an arduous one and its multi-year outlook will be at the mercy of the pace of the recovery.

Saskatchewan is largely a Canadian success story in the way it handled the COVID-19 pandemic, but it has not been immune to the crisis' economic impact.

The Ontario government unveiled a $17 billion pandemic action plan and stands ready to do more if needed.