HALIFAX - Officials say Nova Scotia’s economy is showing signs of recovery but the province may continue to deal with uncertainty caused by the COVID-19 pandemic through the end of the fiscal year.
An update released today projects total revenue to be $12.8 billion, which is up $1 billion from the budget tabled in March, due in part to higher personal tax and HST revenues.
The province is also forecasting a surplus position of more than $108.2 million for 2021-22, a turnaround from the $585-million deficit projected in the March budget.
Finance Minister Allan MacMaster says that in November, employment in the province was above pre-pandemic levels, hitting the highest level on record.
He also says, however, that growth is uneven and several sectors remain impacted by the ongoing pandemic, including industries with more face-to-face interaction such as tourism and recreation.
The update forecasts 1.5 per cent growth for the provincial economy in 2022 with economic activity less affected by COVID-19.
This report by The Canadian Press was first published Dec. 21, 2021.
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This story was produced with the financial assistance of the Facebook and Canadian Press News Fellowship.
N.S. economy showing signs of recovery, but growth 'uneven' for 2021-22 - pentictonherald.ca
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