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It says in a brief report that a 38.1 per cent net debt-to-GDP ratio remains manageable but is rising as the province borrows more cash to fund projected deficits and capital projects.

The Progressive Conservative government tabled a budget on Tuesday that projected a record $410-million deficit, adding to a net debt expected to grow to $4.9 billion over the next two years.

The Opposition Liberals said the budget reflects a government with a spending problem. 

Morningstar notes the budget predicts new infrastructure and increased population that it says will help the economy recover in the medium term.

This report by ºÃÉ«tvwas first published April 17, 2026.