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.

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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