Newfoundland and Labrador government is projecting an $1.84-billion deficit for the current fiscal year – a $309-million improvement from what it had forecast in July.Provincial net debt is expected to reach $16.4 billion, or about $31,000 per person in the province.
Coronavirus-related delays help push up costs of Muskrat Falls project by $435M The government says the smaller deficit projection for the 2020-21 fiscal year comes from unexpected pandemic help from the federal government and an improvement in oil prices.Even so, the province anticipates a $430-million drop in oil royalties compared with the 2019-2020 budget.Finance Minister Siobhan Coady said the 2020-2021 budget is a “hold-the-line” budget as the province navigates a.