Quebec’s Leitao Sees 2015-16 Surplus of at Least C$1.8 Billion
- ‘We really have turned it around,’ finance minister says
- Additional money likely to go to health care, reserve fund
Quebec's Leitao: We Have Turned the Budget Around
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Quebec may use part of an unexpected C$1.8 billion ($1.4 billion) surplus for last year to boost spending on health care and education, Finance Minister Carlos Leitao said.
Higher-than-planned revenue and smaller-than-forecast debt costs are working in Quebec’s favor, according to preliminary budget documents released June 30. Leitao, who had initially forecast the 2015-16 budget would be balanced, said he’ll provide final figures in Quebec City in October, adding the exact date hasn’t yet been decided.