Nova Scotia Sees 2013-14 C$16.4 Million Budget Surplus

Nova Scotia will record a budget surplus of C$16.4 million ($16.2 million) in the year that started April 1, government documents project.

Nova Scotia, Canada’s fourth-smallest province by population, made the forecast in its budget presented today by Finance Minister Maureen MacDonald and posted on the department’s website. The government estimates a deficit of C$356 million in the fiscal year that ended March 31, wider than a previous forecast of C$211 million.

The province predicts borrowing requirements of C$629.5 million for the 2013-14 fiscal year, down from C$1.35 billion in the year just ended, budget documents show.

Nova Scotia will focus on issuing shorter-term debt in the early part of the year, and then “will look to establish a new 10-year benchmark later this year,” Peter Urbanc, Nova Scotia’s treasurer, said in an e-mail.

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