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New Brunswick's 2026 deficit hits $1.33 billion, driven by health costs, tax shortfalls, and overspending, threatening its 2028 balanced budget goal.
New Brunswick’s fiscal deficit has reached a record $1.33 billion in 2026, more than double earlier projections, driven by lower tax revenues, rising health-care costs, population growth, and overspending in key departments.
Finance Minister René Legacy cited $432.5 million in excess health spending, largely from new physician contracts, and $127.1 million in social development overruns.
The province’s net debt now stands at $13.9 billion.
Legacy acknowledged the challenge of meeting the 2028 balanced budget goal, warned of tough choices including possible school closures, and emphasized that fiscal pressures are shared by other provinces.
El déficit de New Brunswick en 2026 alcanza los $1.33 mil millones, impulsado por los costos de salud, los déficits fiscales y el gasto excesivo, amenazando su objetivo de presupuesto equilibrado para 2028.