New Brunswick’s finance minister has nothing but good things to say about the first-quarter fiscal results released Monday.
The results project a deficit of $187.4 million for the 2018-19 fiscal year — down from the budgeted deficit of $188.7 million.
Cathy Rogers says the results are a clear demonstration that the province’s balanced fiscal plan is working.
“Over the past four years, your government has met and exceeded our financial targets while growing the economy,” says Rogers. “Your government has reduced the deficit by more than half while making crucial investments in education and health care.”
Revenue is projected to be $78.5 million higher than expected while expenses are up $77.1 million from budget.
The province says expenses from the spring flood were a major factor and will be largely offset by the federal government.
The net debt is also projected to increase by $385.4 million and reach $14.5 billion by the end of next March.
You can view the results by clicking here.
(File photo)
