By Canadian Press

Northwest Territories to release fiscal year 2023-2024 budget

Feb 8, 2023 | 2:04 AM

YELLOWKNIFE — The Northwest Territories government is to release its new budget today, the last before the territorial election set for the fall.

The territory’s last $2.1-billion budget saw a 2.3 per cent increase in spending.

Finance Minister Caroline Wawzonek touted that budget as a sustainable plan, promising to not cut programming or add new taxes while limiting new spending.

While the budget was passed in April 2022, several legislature members opposed the plan, criticizing limited spending on communities outside of Yellowknife.

Last February, the government projected it would end the fiscal year with a surplus of $131 million.

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It expected to increase borrowing by $131 million, bringing the territory’s total debt to more than $1.6 billion, close to the territory’s debt ceiling of $1.8 billion.

This report by The Canadian Press was first published Feb. 8, 2023.

Emily Blake, The Canadian Press