Province Now Projecting A Deficit Of $402.7 Million

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.

Bobby Nock

Bobby grew up in Whycocomagh before moving to Halifax to attend university where he earned a Bachelor of Arts and a Bachelor of Journalism degree. After university, Bobby moved back to Cape Breton where he began working as a freelance journalist and has done work for both print media and as a broadcast journalist. As the News Director, Bobby Nock will get your day started by bringing you information that helps connect you to the community with all the latest in local news.

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