NB now projecting $183.3M deficit
New Brunswick has released second-quarter results showing a projected deficit of 183.3-million dollars for the current fiscal year.
That compares to an estimated surplus of 92.4-million dollars in the budget delivered in early March before the major impacts of the COVID-19 pandemic hit the province.
Revenue is projected to be 40.3-million lower than expected, while total expenses are estimated to be 235.5-million dollars higher.
The province says most of the extra spending will be offset by federal revenue from the Safe Restart Agreement and other programs.