Prince Edward Island is reporting a $14.4 million surplus for the 2022-2023 fiscal year.
According to a news release, the province put out all three volumes of Public Accounts on Monday, which include its audited financial results.
“Releasing public accounts is a way for Government to demonstrate our strong fiscal management through a transparent process,” said Minister of Finance Jill Burridge. “These positive numbers released today show that despite a few challenging years, with much unpredictability, our economy continues to grow, allowing us to focus on investing on priorities that are important to Islanders.”
The province says its net debt for the fiscal year is $2.45 million, or 27.2 per cent of its GDP. The annual surplus of $14.4 million represents a $67.8 million decrease from the 2021-2022 surplus.
The province credited higher-than-anticipated revenues for the surplus, saying some of the main drivers were increased employment, increased manufacturing, and expanded population.
