It's likely that we will have deficits for the foreseeable future—that is, beyond a five-year horizon—but that depends on many things, notably the rhythm and pace at which the government will implement its Speech from the Throne and platform commitments, and whether or not this will be accompanied at the same time by strong or not so strong economic growth. We could be in a period of extended deficits, but that is not necessarily a fatal flaw. If the deficits are relatively small, they can still be sustainable if the economy keeps growing.
On January 31st, 2022. See this statement in context.