Quebec: Budget 2020. A Continuity Budget in an Uncertain Environment

Overall, the Government of Quebec’s financial situation remains excellent. For a fifth consecutive year, the fiscal year ending March 31 will close with a $1.9B budget surplus. This amount will boost the stabilization reserve fund to $13.9B. This reserve fund provides budgetary leeway, which could allow the Quebec government to post future budget deficits without derogating from the Balanced Budget Act. It should be noted that this reserve fund is not comprised of additional liquidity, since the budget surpluses of recent years have been used to reduce the provincial debt.