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The government says the deficit will rise by $1.9 million compared to what was projected in the February budget, to $94.8 million in the 2022-23 fiscal year.

Spending will rise by $240 million more than budgeted — to $2.8 billion — including more than $170 million in new spending that will fund programs to help Islanders with inflation and to recover from the late-September storm.

The government says a rise in the Island's population and a rebound in tourism are expected to fuel economic growth this coming year.

The province's net debt is estimated to be about $2.5 billion at the end of the fiscal year, an improvement of about $116 million from the February budget.

This report by ¹ú²úÓÕ»ó¸£Àû was first published Dec. 22, 2022.