The province will run a $4.2 billion operating budget deficit in 2023/24.
british columbia budget
After six consecutive years of surpluses, the government ran operating deficits in 2019 and 2020.
The province expects net debt to increase by $31.2 billion over the next three fiscal years.
“B.C. is currently on target to balance the 2014/15 budget,” declared Mike de Jong, B.C.’s finance minister while unveiling the government’s latest financial update. Understandably, many British Columbians will take de Jong’s comments at face value.