There’s light at the end of the tunnel with the provincial economy gaining momentum this year and next and employment improving. That’s what you find in the Alward Government’s first Pre-Election Economic Outlook even though the growth rate this year is only expected to reach 1.2 per cent.
It expects the increase in U.S. housing starts will result in forestry exports posting healthy gains and help grow employment.
According to the report, the proposed Energy East pipeline would result in 2 billion dollars worth of spending over 3 years.
The budget deficit is estimated at 391 million dollars in 2014-2015 with the provincial net debt reaching 12.2 billion dollars by March of next year.
A balanced budget is still being predicted for 2017-2018.
