Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Highlights of Newfoundland and Labrador’s 2024-25 budget
ST. JOHN’S, N.L. – Newfoundland and Labrador Finance Minister Siobhan Coady tabled the province’s 2024-25 budget Thursday. Here are some highlights:
– Projected GDP is $33.2 billion, which is a five per cent increase from $31.6 billion the year before.
– Total spending of $10.4 billion, with a projected deficit of $152 million.
– $4.1 billion for health care, which the government touts as the biggest commitment in the province’s history.
– Net debt of $17.8 billion, with $2.8 billion in new borrowing.
– Debt servicing costs account for about 11 per cent of total expenses at roughly $1.15 billion, which is slightly more than the province will spend on education.
– Projected $1.6 billion in oil revenues, with an expected average oil price of US$82 per barrel.
This report by The Canadian Press was first published March 21, 2024.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
