Canada's Morneau to forecast a federal deficit over C$300 billion: The Globe and Mail

FILE PHOTO: Canada's Minister of Finance Bill Morneau speaks in the House of Commons as legislators convene to give the government power to inject billions of dollars in emergency cash to help individuals and businesses through the economic crunch caused by the coronavirus disease (COVID-19) outbreak, on Parliament Hill in Ottawa, Ontario, Canada April 11, 2020. REUTERS/Blair Gable

(Reuters) - Canadian Finance Minister Bill Morneau will forecast a deficit in excess of C$300 billion ($220 billion) on Wednesday, The Globe and Mail reported, citing two senior government officials.

Morneau will forecast the deficit for only the current fiscal year and will not make any new policy announcements, the newspaper reported, citing a third senior government official.

(This story corrects to Canadian dollars in headline and first paragraph)

Reporting by Aishwarya Nair in Bengaluru; Editing by Tom Hogue