Residents of the province face the highest provincial government debt interest costs in the country.
newfoundland & labrador economy
The province's debt is on track to grow faster than its economy.
Paying a premium for labour puts a burden on taxpayers and the province’s books.
According to Alaska’s constitution, the state government must deposit 25 per cent of all mineral revenues into its fund each year.
Total government revenue is expected to be $1.3 billion higher than projected in the province's budget.
The province’s debt as a share of the economy is projected to more than triple by 2046.
The province's net government debt has increased by more than 18 per cent since 2019.
The mining industry plays a central role in the province's economic growth and job creation.