Quebec Finance Minister Monique Jerome-Forget, just hours removed from the passage of her third budget, announced Wednesday that she's quitting politics.

Jerome-Forget, with Premier Jean Charest by her side, told a news conference in Quebec City that she wants to spend more time with her family and learn Spanish. She owns a home in Mexico.

"I had made a commitment to leave right after the budget. In fact I have already bought my ticket to go to learn Spanish," she said.

"I'm booked in a language school for the next five weeks, five hours a day and I booked that quite a while ago."

Jerome-Forget, a 68-year-old grandmother, is vacating her seat in the Montreal-area riding of Marguerite-Bourgeoys, which she has held since 1998.

"I leave with a sense of serenity and I will be back with my family, my grandchildren and my husband," she said, referring to her political career as the "job of a lifetime."

Quebec Economic Development Minister Raymond Bachand has been named to replace Jerome-Forget.

"With the challenges of the economy, and keeping our economy and companies afloat, there are many joint files between economic development and finance," he said. "It will be a challenge, and I thank the premier for this great opportunity."

Jerome-Forget leaves the powerful finance post weeks after tabling a budget that included a $3.9 billion deficit and hikes to an array of fees amid a global recession.

She made her decision before she presented her deficit budget March 19.

"I had that in mind a number of months ago and I did stick to my guns," Jerome-Forget said. "I decided I was heading in that direction."

She wanted to be at Charest's side for the budget, she said.

"And I think he wanted me there," she added.

Jerome-Forget's last several months in cabinet were highlighted by record losses and leadership questions at the Caisse de depot et placement du Quebec, the largest pension-fund manager in Canada.

She was first elected in the 1998 election that also saw Charest make his entry into provincial politics.