The reduced deficit relies largely on oil and gas royalties and transfers from Ottawa.
newfoundland & labrador finances
Government salaries and benefits comprise approximately 42 per cent of the province's spending.
At $2,055 per person, the province's government debt burden is the highest in Canada.
The province's spending is projected to increase by $542 million.
Government workers in Atlantic Canada received 11.9 per cent more (on average) in wages than their private-sector counterparts.
This year’s deficit is projected at $1.8 billion, equivalent to 6.2 per cent of the provincial economy.
The province is facing a nearly $2 billion projected operating deficit.