Provincial Surplus for 2018-19 Bigger Than Forecast
Audited financial statements show a much bigger provincial surplus than forecast for the fiscal year that ended on March 31st.
The province says the final surplus of $120 million is 90.6 million dollars higher than the budget estimate.
It says revenue was up 101.9 million.
That’s mainly thanks to more money from petroleum royalties, provincial recoveries and federal equalization.
An increase in demand for healthcare and more money for the Boat Harbour cleanup in Pictou County were two factors driving up expenses by 11.3 million dollars.
The net debt in 2018-19 was just over 15 billion dollars.