You might not be surprised to find out we spent a big dollars on health care over the last fiscal year.
Updated figures from our province show we are facing a deficit of $341 million with most of it spent on trying to get through COVID-19.
“This has been a challenging time for many Nova Scotians, as well as small businesses, retailers and tourism operators across our province,” said Allan MacMaster, Minister of Finance
and Treasury Board. “As we work toward rebuilding our economy, we will continue to focus on our recovery and keeping Nova Scotians safe.”
Total consolidated revenues were $12.2 billion, a decrease of $177.8 million from the budget estimate, due mainly to changes in tax revenue, recoveries and federal transfer payments.
Expenses were $12.6 billion, an increase of nearly $219 million from the budget estimate, mainly due to increased support for health-care services during the pandemic and other COVID-19 supports to aid in recovery efforts.
At year end, net debt was $16.40 billion while the net debt to GDP ratio for 2020-21 was 36.0 per cent.
It’s the first financial update for the new PC government and first since the budget in March.
