{"id":952662,"date":"2026-10-31T03:34:11","date_gmt":"2026-10-31T03:34:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/952662\/"},"modified":"2026-10-31T03:34:11","modified_gmt":"2026-10-31T03:34:11","slug":"p-e-i-s-deficit-projection-grows-to-nearly-460m-in-latest-economic-update","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/952662\/","title":{"rendered":"P.E.I.’s deficit projection grows to nearly $460M in latest economic update"},"content":{"rendered":"

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Prince Edward Island has increased its deficit projection by almost $50 million, according to the province’s fall fiscal and economic update, released Friday.<\/p>\n

The provincial operating budget tabled in April included a $410-million shortfall<\/a>. Now, the province said it’s expecting its finances to go $459.3 million into the red.\u00a0<\/p>\n

Increased operating expenses \u2014 which came in more than $100 million over budget \u2014 can be primarily attributed to health care, social program funding and rising fuel costs, according to the update.\u00a0<\/p>\n

“Our focus remains on maintaining essential programs and services, like health care and public education, while balancing responsible spending, careful debt management, and strategic investments that will support sustainable, long-term economic growth,” Finance Minister Jill Burridge is quoted as saying in a news release.\u00a0<\/p>\n

According to the fiscal update, P.E.I.’s net debt is forecast to decrease by $101.8 million by the end of the 2026-27 fiscal year compared to estimates from the spring budget. <\/p>\n

The province said in a news release that while spending has increased, P.E.I.’s economy is seeing improving revenues, including:\u00a0<\/p>\n

Average monthly employment up 3.1 per cent compared to the same period last year.\u00a0Unemployment rate fell to 7.4 per cent, representing a 0.7 per cent decrease from the previous year.\u00a0International goods exports up 7.2 per cent.Farm cash receipts up 3.5 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"Listen to this article Estimated 2 minutes The audio version of this article is generated by AI-based technology.…\n","protected":false},"author":2,"featured_media":952663,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-952662","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/952662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=952662"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/952662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/952663"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=952662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=952662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=952662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}