NS deficit expected to grow to $249 million

Nova Scotia’s finance minister says the province’s deficit is projected to grow.

Maureen MacDonald delivered the first fiscal update for 2012-2013 since the government released its spring budget.

MacDonald says the deficit is forecast to be $249.3 million, an increase of $38.1 million.

“On a $9.5-billion budget, we are remarkably close to where we expected to be. The Back to Balance plan remains on track,” MacDonald said. “Government is committed to spending restraint, as we’ve demonstrated by having expenses come in under-budget for three years in a row.

The update is MacDonald’s first since she became finance minister in May.

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