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British Columbia budget

BC Q2 Update 2025:

Some Welcome Fiscal News Despite a Challenging Economic Backdrop

November 28, 2025
Randall Bartlett
Deputy Chief Economist

The Government of British Columbia had good news to report in its Q2 Update 2025, revising its deficit outlook for the 2025–26 fiscal year (FY26) in a more positive direction for the first time in some time. The deficit is now expected to be $11.2B this year, $0.4B smaller than in its last financial outlook. And while updated forecasts for the outer years aren’t provided, one could expect they would be revised in a similar direction, all else being equal.

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BC Q2 Update 2025 (PDF, 403 KB)
NOTE TO READERS: The letters k, M and B are used in texts, graphs and tables to refer to thousands, millions and billions respectively. IMPORTANT: This document is based on public information and may under no circumstances be used or construed as a commitment by Desjardins Group. While the information provided has been determined on the basis of data obtained from sources that are deemed to be reliable, Desjardins Group in no way warrants that the information is accurate or complete. The document is provided solely for information purposes and does not constitute an offer or solicitation for purchase or sale. Desjardins Group takes no responsibility for the consequences of any decision whatsoever made on the basis of the data contained herein and does not hereby undertake to provide any advice, notably in the area of investment services. Data on prices and margins is provided for information purposes and may be modified at any time based on such factors as market conditions. The past performances and projections expressed herein are no guarantee of future performance. Unless otherwise indicated, the opinions and forecasts contained herein are those of the document’s authors and do not represent the opinions of any other person or the official position of Desjardins Group.