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Tuesday, February 4, 2014

Provincial Budget Shows A Drop In The Deficit

As the provincial government tables its new budget, the Minister of Finance says the economy is showing signs of recovery.

A deficit of 391-million dollars is being projected, down from 564 million-dollars and spending is predicted to grow less than two percent. 

Blaine Higgs says the Energy East pipeline and the development of the natural gas industry will increase investment and more. Higgs says they have the potential to significantly boost investment, job creation and government revenue for years to come.

He says given these projects and planned investments in the forestry sector, the department of finance is forecasting growth of 2.1 per cent in 2015.

The capital budget which totals 555-million dollars includes 213-million to maintain and improve health care infrastructure and 99-million for school infrastructure.