The Provincial Finance Minister says the budget and the economy are on track at mid-year. We are looking at a projected deficit of about $348 million. That is $17 million less than was projected in the budget. Donna Harpauer says the government’s plan to return the province to balance by 2019-20 remains on track. Revenue is up $138 million from budget. It is forecast to be up because of higher projected resource revenue and higher net income from Government Business Enterprises, federal transfers and other own-source revenue. Expense is expected to be up $121 million from budget. Nearly half of the increase is due to pension expense.
Harpauer says, the province is showing modest improvement in economic activity, and GDP forecasts remain consistent with budget projections. Public debt at March 31st is expected to be $19.78 billion. That’s $251.6 billion lower than budgeted.
Projected Deficit is Down and Revenue is Up
By Steve Chisholm
Nov 29, 2018 | 9:34 AM
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