The Quebec government’s financial statements have been revised upward for the 2024-2025 fiscal year, while the budget balance forecast for next year remains unchanged.

Finance Minister Eric Girard released the government’s public accounts for the fiscal year ending March 31 on Friday.

The report indicates that the financial statements for 2024-2025 show an accounting deficit of $5.2 billion, which corresponds to 0.8 per cent of GDP.

This is an improvement over the previous accounting deficit, which stood at $6 billion, or 1 per cent of GDP, in 2023-2024.

The budget deficit, after taking into account payments from revenues allocated to the Generations Fund, amounts to $7.6 billion, or 1.2 per cent of GDP.

It was $8 billion, or 1.4 per cent of GDP, in 2023-2024 after the contribution to

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