Quote:
Originally Posted by fenwick16
I agree with a cautious approach. I am happy that Nova Scotia has gotten its finances under control. You are off on the debt payments though. Nova Scotia actually paid less in 2008-2009 for debt servicing than it did 10 years ago in 1998-1999. In 2008 - 2009, Nova Scotia only paid $886 million for debt servicing. (source - http://www.gov.ns.ca/finance/site-fi...erview2008.pdf ) The percentage of the budget for debt servicing was 10.7% of expenses, not bad compared to what it was 10 years ago (lower interest rates are a big factor in this). I would prefer that Nova Scotia's debt was more like Alberta's debt (actually a surplus). The information for 2009 - 2010 has not been posted to the NS government website since I think it was just released, or parts of it, in the past couple of days.
(source - page 4 of http://www.gov.ns.ca/finance/site-fi...erview2008.pdf ) |
I wonder why I thought it was so high?? Hmm - I seem to recall reading somewhere that it was 2B $. Weird; either way; but we aren't in a surplus in Alberta anymore. Well not officially - we're using the 'rainy day' funds to keep our debt at 0.
Either way; this is good start but caution is the key.