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BUDGET 2025

Innovation and infrastructure to counter uncertainty

Quebec Budget 2025

The Quebec government’s budget includes measures to counter economic uncertainty and support innovation, in addition to setting aside funds for culture and the regions. It comes at a time when the deficit stands at $13.6B, with a return to a balanced budget in 2029-2030.

$13,6B

Deficit

$12,3B

Support for the economy and the population over 5 years

$164B

Québec Infrastructure Plan

  • $13.6B deficit

    After deposits to the Generations Fund, or 2.2% of GDP.

  • Quebec's net debt represents 38.7% of its GDP as at March 31, 2025

    The government is revising its net debt reduction target, which is now set at 35.5% of GDP by 2032-2033.

  • Return to a balanced budget by 2029-2030

    The government commits to closing a $1B gap in 2027-2028, then $2.5B in 2028-2029 and in 2029-2030.

  • Economic growth forecast at 1.1% in 2025 and 1.4% in 2026

    To arrive at these forecasts, the government anticipates that U.S. tariffs will reduce growth by 0.7% per year.

  • Improvement of the tax system

    The amounts freed up represent $3B over 5 years, following a review of 170 existing tax measures.

  • $11B increase in the Québec Infrastructure Plan (QIP) 2025-2035

    The total now stands at $164B.