The latest net debt-GDP ratio was 37.5 per cent in 2015-16, down from 38.3 per cent in 2014-15. Although this represents an improvement from the previous year, it remains above the baseline. There have been revisions to the historical nominal GDP data, resulting in a higher ratio for the baseline period (to 36.9 per cent in 2012-13). Nova Scotia is not on track to meet this target now.
|year||Net GDP Ratio||target|
What this means
This data measures the dollar value of the provincial government's debt relative to the size of the province's GDP. GDP size is a common measure of the provincial tax base from which the government can draw revenue and is thus a measure of its ability to pay down debt.
Nova Scotia reports lower than forecast deficit as health spending delayed
Nova Scotia's government says its final figures for the 2015-16 fiscal year show a smaller than anticipated deficit in part due to delays in spending on health care.
Nova Scotia closes 2015-2016 fiscal year under budget
Nova Scotia closed the books on fiscal year 2015-16 with a deficit lower than budgeted by almost $87 million.
Nova Scotia's net debt hits all-time high (2013-2014)
The audited financial statements for 2013-14 show that the deficit grew to $678.9 million, nearly $200 million from what was forecast in December, and the net debt climbed to $14.8 billion.