07:24 AM EDT, 09/11/2024 (MT Newswires) -- Canada's province of British Columbia released its fiscal update late Tuesday, noted Bank of Montreal (BMO).

The bank said that BC's deficit is tracking C$1.1 billion wider than the budget plan at V$9.0 billion, entirely on the back of higher spending. The borrowing program was also ramped up to C$27 billion, or C$2.8 billion above the budget estimate -- C$7 billion is remaining).

Ahead of a fall provincial election, the province continues to exhibit deteriorating fiscal fundamentals, stated BMO.