Inverness MLA and provincial finance and treasury board minister Allan MacMaster has
Finance Minister Allan MacMaster (Communications Nova Scotia photo)
released the public accounts for the 2022-23 fiscal year ending March 31.
MacMaster stated the province’s growing population and rebounding economy had a positive effect on the province’s finances.
A release from the provincial government states Nova Scotia reported a surplus of $115.7 million compared with an estimated deficit of $506.2 million when Budget 2022-23 was introduced in March 2022. This reported surplus is an increase of $375.1 million from the final forecasted deficit of $259.4 million.
Total consolidated revenues were $15.6 billion, an increase of $2.0 billion from the budget estimate, due mainly to changes in tax revenues, recoveries, federal transfers, net income from government business enterprises and investment income. This total includes $928.6 million in one-time revenue from previous years.