Federal Finance Minister Bill Morneau says March 22 will be budget day in Canada, revealing a fresh estimate of how big the deficit will get as the Liberal government spends on infrastructure to boost the economy.
Ecnomic revival amid lower oil prices was a major plank of the Liberal's successful 2015 election campaign. The government has earmarked billions in infrastructure spending, among other measures.
Morneau told reporters that the budget will extend past efforts to boost an economy that faces headwinds including the potential renegotiation of the North American Free Trade Agreement
In November's fiscal update, the government forecast a budget deficit of $25.1 billion in fiscal 2016-2017. It did not forecast when the budget would be balanced again.
The government's spending blueprint, due to be released after the markets close at 4 p.m. ET on March 22, will also focus on boosting jobs, Morneau said.
