The province’s not-so-rosy financial picture is cause for concern for the province’s Auditor General.
In her latest report, Kim MacPherson says her main concerns include the continuing deficit and the net debt which has increased $7-billion in the last decade.
The report says the province paid $700-million in interest last year on its overall funded debt of $16.5-billion.
“As I have reported repeatedly, this net debt growth is not sustainable,” says MacPherson.
MacPherson says she’s still worried that the province doesn’t have any immediate plan to deal with New Brunswick’s continuing fiscal decline and the longer that’s the case — the harder it’s going to be to bounce back.
MacPherson also says there will be a higher demand for our children and their children to pay for past expenses.
Click here to see the full report.