We base our estimate on information that is known at the time, but there is one big unknown, information that the minister probably has but we don't, and that is the final deficit for the year that ended on March 31. We still don't have the public accounts. Based on that incomplete information, we do indeed estimate that the deficit for the current fiscal year will be $46.5 billion, and that's due to slower revenue growth and also higher expenditures. That's why we think the deficit will be some $6 billion higher than what the minister indicated earlier this year.
On October 19th, 2023. See this statement in context.