New Brunswick’s Projected Deficit Down $6.2 Million
FREDERICTON—In the first of the fixed reporting dates for quarterly fiscal updates, the Government of New Brunswick today said the province’s 2015-2016 deficit is down $6.2 million, to an anticipated $470.6 million.
The improvement in projected deficit for the first quarter of 2015-16 is due to higher revenues of $4.2 million and lower expenses of $2.0 million.
“This is encouraging news for our province as we work to put our fiscal house in order,” said Finance Minister Roger Melanson. The projected deficit of $470.6 million includes a $150 million contingency reserve.
“These fixed reporting dates for quarterly fiscal updates will provide more consistency, transparency and accountability to financial reporting,” said Melanson. The 2015-16 first-quarter report is available online.