Amid great uncertainty and some of the most unique circumstances in the province’s history, government has forged ahead and presented its budget for the coming year.

The 2024-2025 budget includes no new taxes, tax increases, or fee increases.

The province is inching toward recording a surplus, but it won’t be this year, with the deficit pegged at $152 million.

The province expects revenue to be around $10.3 billion for the year, but expected spending will be $10.4 billion. They project to have to borrow $2.8 billion.

The net-debt is forecasted to be around $17.8 billion for the fiscal year.

Oil production is anticipated to sit at about 86 million barrels this year, and independent forecasters expect the price to be US $82 per barrel. That will represent 15 per cent of total revenue for government. That’s compared to 33 per cent of government revenue over a decade ago (2011-2012).

Government is also adding $72.4 million to the future fund, bringing total contributions $358.8 million.