The provincial government is looking at the possibility of selling off certain assets to try to knock down the growing debt.

Finance Minister Siobhan Coady told the Liberal AGM on the weekend that they’re looking at a plan that will gradually reduce and eliminate the annual deficit which is at $1.8-billion this fiscal year.

The province’s cumulative debt sits at about $47-bilion, with only about 280,000 taxpayers.

Coady says part of their plan also involves looking at the province’s assets.

“I will say that we are also looking at asset monetization” says Coady, “so if we happen to sell an asset that we have we will pay that down on debt.”

The PERT report, released earlier this year recommends selling off all or a majority interest in the Newfoundland Liquor Commission, Marble Mountain, and the province’s oil and gas assets.