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  • Federal Budget

    March 28, 2023 | 18:04

    Green Energy Goals, Red Ink Realities

    Economist
    profile photo of Robert Kavcic

    Robert Kavcic

    Senior Economist and Director
    Economics

    Robert has been with the Bank of Montreal since 2006. He plays a key role in analyzing regional economic, fiscal... (Read more)

    profile photo of Robert Kavcic

    Robert Kavcic

    Senior Economist and Director
    Economics

    Robert has been with the Bank of Montreal since 2006. He plays a key role in analyzing regional economic, fiscal... (Read more)

    More
    Key Summary
    • Budget deficit of $40.1 billion in FY23/24, from $43 billion last year

    • Debt/GDP ticks up to 43.5% from 42.4%; medium-term decline projected

    • Net new stimulus of $4.8 billion this year; $43 billion over six years

    • Mix of measures aimed at clean energy, dental care and taxes on higher-income earners

    • Economic assumptions account for mild recession risk; downside scenario looks for deeper recessionary deficits

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