The provincial government reports the deficit has gone down by more than 135 million dollars to 255.4 million.
Finance Minister Roger Melanson says the adjustment downward is mainly due to one time payments in tax revenue, federal funding recoveries and higher net income for NB Power.
Former Finance Minister Blaine Higgs says the fiscal update contains a disturbing trend with expenses continuing to be over budget in a number of departments, resulting in a projection of $82.5 million higher than budgeted for.
The projected increase in the province’s net debt is $377.1 million.
