- Marc Desormeaux, Principal Economist • Kari Norman, Economist
Other provincial budgets
New Brunswick: Budget 2024 Still a Fiscal Bright Spot
March 19, 2024
New Brunswick’s (NB) fiscal year 2024–25 (FY2025) budget continued to pencil in surpluses for the foreseeable futures.
The net debt-to-GDP ratio is still expected to decline over time. If current fiscal forecasts come true, by FY2027, New Brunswick’s net debt-to-GDP ratio would reach third place among Canadian provinces for the first time ever.
New policy announced in the budget looks largely incremental. It included funding for the healthcare system and public housing, as well as wage increases for various health and social services workers. The government opted not to offer new affordability measures.
New Brunswick expects to borrow $1.6B in FY2025, net of pre‑financing in FY2024.