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[Member Publication Notice] ATLΛNTIC Fiscal Monitor: Nova Scotia Budget 2021/2022

Date: March 26, 2021

APEC’s new member-only publication ATLΛNTIC Fiscal Monitor provides independent insights on Atlantic provincial budgets and the federal budget. 

Nova Scotia’s budget for 2021/2022 forecasts a $585 million deficit for 2021/2022. Spending will increase 2.5% to fund COVID-19 supports and long-term and home care costs. Overall revenues are forecast to grow almost 4% in 2021/2022 led by higher federal transfers.

Net debt will grow by almost 8%, or $1.3 billion, to $18 billion this year. This is 38% of GDP, still well below the peak of 47% in 2000/2001. The government projects a return to balance in 2024/2025, with anticipated revenue growth outpacing expenses by about four to one.

The government projects a return to balance in 2024/2025, with anticipated revenue growth outpacing expenses by about four to one.


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