Achieving a Balanced Budget: Quebec Fiscal Snapshot

This “fiscal snapshot” looks at the current fiscal condition of the province of Quebec and provides a short- and medium-term fiscal outlook for the province. The drop in oil prices, the strength of the U.S. recovery, and the loonie’s depreciation against the greenback will make it possible for Quebec exports to perform well and grow faster than they have since 2000, reaching a growth rate of 3.6 per cent. This will rekindle private investment, create jobs, and increase household incomes. Stronger-than-forecast economic growth should enable the government to reach its budgetary revenue target of $74.3 billion in 2015–16, and to modestly exceed its forecasts for 2016–17. And the improving economic situation in Quebec, along with the current restructuring of public finances, will allow Quebec to see a decline in its net debt by 2020.