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P.E.I. pandemic recovery budget projects $112-million deficit as spending rises
by The Canadian Press
Last Updated Mar 12, 2021 at 12:27 pm EDT
Prince Edward Island Premier Dennis King speaks after announcing a cabinet shuffle in Charlottetown, Thursday, Feb.4, 2021. THE CANADIAN PRESS/John Morris
CHARLOTTETOWN Prince Edward Island’s Tory government is projecting a $112-million deficit in a budget it is billing as a step on the “road to recovery” from the COVID-19 pandemic.
Finance Minister Darlene Compton provided the estimate today as she delivered a 2021-22 provincial budget with projections of $2.5 billion in spending.
Compton told the legislature the budget shortfall comes on top of the deficit for the current year, which is now expected to be $120 million by the end of March about $50 million lower than originally projected.
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CHARLOTTETOWN - Prince Edward Island s Tory government is projecting a $112-million deficit in a budget it is billing as a step on the road to recovery from the COVID-19 pandemic.
Prince Edward Island Premier Dennis King speaks after announcing a cabinet shuffle in Charlottetown, Thursday, Feb. 4, 2021. Added spending as Prince Edward Island recovers from the COVID-19 pandemic is expected to add another $112 million in red ink to the province s public finances. THE CANADIAN PRESS/John Morris
CHARLOTTETOWN - Prince Edward Island s Tory government is projecting a $112-million deficit in a budget it is billing as a step on the road to recovery from the COVID-19 pandemic.
The P.E.I. budget deficit is on the way down, but the King government does not see it being eliminated in the next three years as the province continues to emerge from last year's pandemic-induced recession.