New Brunswick has recorded a $754-million deficit for the 2009-10 fiscal year, the highest deficit in the province's history. The provincial net debt is expected to grow to $9.5-billion by 2011 — also a record — meaning the share of the debt for every man, woman and child in New Brunswick would be about $12,700. Finance Minister Greg Byrne said while the provincial labour market performed better than expected this year, New Brunswick's manufacturing and export sectors have been hard hit by the weakness in the American economy and lower world prices for forest, energy and mining projects. Also of particular important to university and college students is the continue commitment to tuition freezes by the provincial government who will maintain tuition freezes for the third consecutive year for university students and fifth for college students.
Source: http://www.theglobeandmail.com/news/national/new-brunswick-records-largest-deficit-in-its-history/article1384420/
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