Newfoundland and Labrador’s provincial finances showed modest improvement in 2024, according to Statistics Canada’s latest table of government finance statistics. The province’s gross operating balance rose to $40 million, while the net operating balance remained negative at –$312 million. Total revenue for the year reached $9.398 billion, up from $8.910 billion in 2023, with taxes contributing $5.278 billion. Expenses climbed to $9.710 billion, a slight increase from $9.735 billion in 2023. Net worth for the province was reported at $9.050 billion. Debt securities liabilities reached $20.809 billion, and the overall liabilities for the government were $27.720 billion. Compensation of employees was $1.720 billion, and use of goods and services cost $1.497 billion. Interest expense stood at $974 million, reflecting the province’s debt service obligations.
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