Posted April 3, 2020 6:19 pm
Provincial health department workers stop traffic that has crossed the Confederation Bridge in Borden-Carleton, P.E.I. on Sunday, March 22, 2020.
The Canadian Press/Andrew Vaughan
Prince Edward Island’s government is going to post a $3.7-million deficit in this year’s budget rather than an anticipated surplus.
Finance Minister Darlene Compton announced late Friday that the 2019-20 deficit is due to the COVID-19 pandemic driving up costs and reducing revenues.
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Compton said prior to the pandemic emerging over the past month, the province had anticipated a $2.5-million surplus.
The minister also confirmed the province is adding $15 million to its emergency contingency fund and will allow for deferral of property taxes and fee payments until the end of this year.
1:57N.B. company and N.S. university make 3D printed face shields
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She told reporters during the briefing that the province expects it’s going to have to borrow more money than anticipated in 2020-21 fiscal year due to the pandemic,
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