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It says in a brief report that a 38.1 per cent net debt-to-GDP ratio remains manageable but is rising as the province borrows more cash to fund projected deficits and capital projects.

The Progressive Conservative government tabled a budget on Tuesday that projected a record $410-million deficit, adding to a net debt expected to grow to $4.9 billion over the next two years.

The Opposition Liberals said the budget reflects a government with a spending problem. 

Morningstar notes the budget predicts new infrastructure and increased population that it says will help the economy recover in the medium term.

This report by ¹ú²úÓÕ»ó¸£Àû was first published April 17, 2026.