N.S. deficit rises for fiscal year [Video]

Nova Scotia’s deficit is expected to reach $654 million for the 2024-2025 fiscal year – a $187-million increase from the government’s projections in March.

Allan MacMaster, minister of Finance and Treasury Board, said the government originally expected a $467.4-million deficit when it tabled the budget earlier this year.

“We are closely managing the province’s finances, following through on the commitments we made in the budget and adapting to changing circumstances,” said MacMaster in a news release. “This past year, the government has made necessary investments to build more housing and fix health care while also dealing with cost pressures associated with infrastructure needs and support for people and businesses impacted by natural disasters.”

The province noted several additional appropriations – which are financial supports for institutions that exceed their budget spending authority – totalling $448,460,000 so far this year. Some of them are:

• $178,380,000 for health and wellness (including $111.1 million for Nova Scotia Health, …