Quebec’s provincial deficit came in $1.1 billion less than forecast for its latest fiscal year, the finance minister Raymond Bachand said Thursday.

Bachand said the deficit for the year ended March 31 is $1.1 billion less than anticipated, which is about 25% less than expected. The province’s 2010-2011 budget estimated a deficit of $4.3 billion. Instead, it finished the year at $3.2 billion.

“The economic recovery at the end of 2009-2010 was more robust than expected, which put us at an advantage and enabled us to improve our results,” he said.

“At 1% of our gross domestic product, the Quebec deficit compares favourably with that of other jurisdictions. Ontario, for example, recorded a $19.3-billion deficit for the same period, equivalent to 3.3 % of its GDP. The federal government had a $55.6-billion deficit, 3.6% of Canada’s GDP,” he added.

IE