Increased interest rates are having an impact on the province’s cost of borrowing.
Finance Minister Siobhan Coady says borrowing is up and at higher interest rates.
She says the province has tried to diversify its debt by turning to the European Market to gain more favourable rates.
That program, and other measures being taken are proving successful.
She says the Future Fund, involving a portion of non-renewable resource revenue into a special fund to pay down debt is another way in which the province is helping to stabilize the province’s financial situation.