Quebec 2021-2022 Budget: Four Billion to Grow the Economy

The Quebec government announced it was devoting four billion dollars to accelerate growth and the transition to the new economy in the 2021-2022 budget

“For a year now, Québec has been facing unprecedented health and economic challenges that have severely impacted its economic and financial situation,” said Quebec Minister of Finance Eric Girard. “With this budget, the government continues to support workers who have lost their jobs and entrepreneurs hit hard by restriction measures.”

The four billion is primarily earmarked for increasing productivity and stimulating business investment, creating wealth through innovation, supporting the requalification of workers and their integration into the labour market, supporting regional economic development, sustainably developing the provincial economy, and continuing to support businesses affected by the pandemic. 

One way the government plans to achieve these goals is by investing $753 million over five years to encourage businesses to adopt new technologies to increase productivity. Another way is through supporting the development of the forest sector.

“The forest provides direct employment to some 60,000 people across the province and generates exports of nearly $10 billion annually,” the budget indicates. As such, the 2021-2022 budget provides $92.8 million to support the development of the forest sector.

“This budget is for a resilient Québec that is confident in its future,” says Girard.

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