Third-quarter fiscal results released26 January 2018
FREDERICTON (GNB) – The provincial government has released its third-quarter fiscal results for 2017-18.
“We have consistently met and exceeded our financial targets,” said Finance Minister Cathy Rogers. “As shown in the third quarter, we have continued to reduce the deficit while investing in the priorities of New Brunswickers like our health care and education systems.”
A deficit of $115.2 million is projected for 2017-18. This is an improvement of $76.7 million compared to the budgeted deficit of $191.9 million and an improvement of $20.2 million from the second quarter projection.
The government is currently projecting revenue to be $74.3 million higher than budgeted while expenditures are also down from budget.
Net debt is projected to increase by $272.9 million, an improvement of $89.2 million from the original budget projection.
The government is projecting the provincial economy to grow, with real GDP growth forecast at 1.3 per cent for 2017, an increase of 0.5 percent from the second-quarter fiscal update.
The 2017-18 third-quarter report is available online.26-01-18