Canadians aged 65 or older will comprise nearly 24 per cent of the population by 2040.
The province's massive budget deficit continues a trend that started well before the pandemic.
This year's combined projected federal and provincial government deficits total $234 billion.
This year, the 10 provinces are projected to run cumulative deficits of nearly $80 billion.
In Canada, government net debt has doubled from $1 trillion to $2 trillion.
Forecasts project a -5.1 per cent decline in the province's GDP.
The province’s net debt will rise from $15.2 billion to nearly $17.2 billion.
RBC forecasts an $800 million provincial deficit this year, Scotiabank forecasts $970 million.
Ontario and Alberta are projecting budget deficits for years to come.
One item sorely missing from Finance Minister Mike de Jongs recent provincial budget was a plan to make BCs business taxes more competitive and attractive for investment.