BC Finance Minister forecasting 12.5 billion dollar deficit due to COVID-19

BC Finance Minister Carole James is forecasting the province will run up a 12.5 billion dollar deficit this fiscal year due to the COVID-19 pandemic.

That's a sharp reversal from the balanced budget James predicted before COVID-19 hit.

She says the province has lost more than 230,000 jobs and seen a staggering decline in economic growth since February.

That includes a 15.9 per cent drop in retail sales due to lockdowns ordered in March to flatten the curve of the pandemic that are now being gradually lifted.