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The recent provincial budget has forecasted a deficit of $563.8 million for 2013-2014 - considerably less than the $1.6 billion that had been anticipated just two months earlier. The deficit projected for 2012-2013 was $725.8 million but has been reduced to $430.9 million. (Source : Dept of Finance) Almost $700 million of the difference in the deficit projections is a result of improvement in forecasted revenue from royalties and taxes from the offshore oil and mining sectors.
Source : Cushman & Wakefield
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