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Other provincial budgets

New Brunswick: Budget 2023 - Population Growth Should Boost the Economy and Finances

March 21, 2023
Randall Bartlett, Senior Director of Canadian Economics • Marc Desormeaux, Principal Economist

New Brunswick’s fiscal year 2023–24 (FY2024) budget maintained plans for balanced books in the coming years. Government forecasts do not assume a recession in calendar year 2023, in part because the provincial economy is expected to receive hefty support from international immigration and interprovincial migration. Base case projections keep New Brunswick’s net debt burden on a downward trajectory, as well as the lowest of any province east of Saskatchewan.