Auditor rings alarm bells over N.B.’s debt months before provincial election
FREDERICTON — With a New Brunswick election just months away, the auditor general is sounding the alarm over the province’s fast-growing debt.
Kim MacPherson said Tuesday she is deeply troubled by the fiscal decline — pointing to a $7-billion increase in net debt over the last 10 years.
“As I have reported repeatedly, this net debt growth is not sustainable,” she said as she released Volume One of her 2018 report.
The debt is expected to hit $14.4 billion by the end of March 2019; the government spent $700 million in interest last year just to service the debt.