Quote:
Originally Posted by fenwick16
The Nova Scotia deficit for 2009 - 2010 will come in at $241.9 which is far less than the earlier projection of $592.1 million projected last September (2009). Penny pinching and a better than expected Canadian economy are to be credited for the much smaller deficit. This is according to a bulletin released today by allnovascotia.com. 
The deficit of $241.9 million dollars is peanuts compared to the multi-billion dollar deficits of Ontario and BC. |
Just to add to this - if the province hadn't prepaid $341 million of this year's university payments (2010 - 1011) on last year's budget (2009-2010), the province would have had a surplus instead of a deficit for 2009 - 2010 (source - allnovascotia.com). Interesting note - the province won't record a university payment this year 2010 - 2011 (apparently it will start recording the payment in the year that it is made, starting in 2011 - 2012 year's budget). So get ready for a good budget surplus in 2010 - 2011 because of the university payment not being included on the provincial account books (but it will just be accounting - this sounds like politics).