PEI Fiscal Update

P-E-I’s latest fiscal update for its 2024-25 budget  is forecasting a deficit of 129.5 million dollars, an increase of 44.5 million from the figure released in February last year.The government’s expenditures are expected to increase by 38 million dollars, reflecting an increase in social programs and growth in health care costs.Population saw an increase based on immigration, although the report says natural growth saw a decline.Overall, it says the forecast for real G-D-P for 2024 has been revised down from 4.1 per cent at budget to 3.8 per cent due largely to weaker than expected consumer sentiment and slower employment growth