Quebec announced on June 11 that its projected deficit for the 2025‑2026 fiscal year has been lowered to $7.2 billion, a substantial reduction from the earlier estimate of $13.6 billion. The revision appears in a newly released financial report covering the province’s budget outlook for the upcoming fiscal period.
The updated figure reflects a decrease of $6.4 billion compared with the prior forecast. The government’s latest calculations place the shortfall at less than half of the amount previously anticipated. The report did not provide additional breakdowns of the sources of the reduction, focusing instead on the overall change in the deficit estimate.
The adjustment comes as the province continues to monitor its fiscal position amid broader economic conditions. By revising the deficit downward, Quebec signals an improvement in its projected balance sheet for the 2025‑26 year. The revised number will inform future budgeting decisions and may affect the province’s financial planning for public services and investments.
The original $13.6 billion estimate had been part of earlier budgetary projections released in prior months. The new figure of $7.2 billion now serves as the official estimate for the upcoming fiscal year, according to the June 11 report. The government has not indicated whether the revision will lead to changes in tax policy, spending programs, or other fiscal measures.
Analysts will likely compare the revised deficit to actual performance once the 2025‑2026 fiscal year concludes. For now, the province’s financial outlook appears more favorable than earlier projections suggested, based on the latest official numbers.
The report’s release marks the most recent update on Quebec’s fiscal health, providing a clearer picture of the province’s expected financial position for the coming year.