By The Canadian Press
Thu., March 23, 20231 minutes. check out
ST. JOHN’S, N.L. – Newfoundland and Labrador Finance Minister Siobhan Coady tabled the province’s 2023-24 spending plan Thursday. Some highlights:
— GDP is predicted to strike $34 billion, up about 2.7 percent from $33.1 billion in the previous year.
— Total costs of $9.8 billion, with a forecasted deficit of $160 million.
— $3.9 billion for healthcare, which the federal government promotes as the greatest financial investment in the province’s history.
— The province’s debt-to-GDP ratio has to do with 37 percent, below more than 50 percent in 2020.
— Debt maintenance expenses will represent about 8 percent of overall expenditures at approximately $723 million, which is more than the province will invest in transport and facilities.
— Revenues from 4 overseas oilfields are anticipated to represent approximately 12 percent of the province’s overall earnings, while taxes represent about 45 percent.
— Spending amounted to about $9.7 billion in 2022-23, which was $320 million more than projection at the start of the.
This report by The Canadian Press was very first released March 23, 2023.
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