Province Now Projecting A Deficit Of $402.7 Million

Written by Bobby Nock. Posted in Local News

Finance Minister Allan MacMaster says the government is now forecasting a deficit of $402.7 million for the 2023-24 fiscal year.

That’s an increase of $123.8-million from the $278.9-million deficit presented in March.

Total revenue for 2023-24 is now projected to be $14.6 billion, including $232.3 million in new revenue.

Expenses are now projected to be $15.2 billion, up $363 million from the budget estimate.

That includes $623.2 million in extra appropriations for 10 government departments and one office as well as debt servicing and refundable tax credits.