14 December 2009

Net borrowings up since 2000


Net borrowing per person is higher now than it was in 2000, according to the province’s audited financial statements.

net borrowing 00-04In Fiscal Year 2000, net borrowings  - accumulated borrowing less money set aside to pay off debt when it comes due (sinking funds) – stood at $10,684 per person in the province.

The number hit $13,074 in 2004 and has stayed in the same neighbourhood ever since.  Part of the reason for that is a drop in population since 2004.  The other reason is the increase in net borrowings since 2000.  Net borrowings increased in the period from $5.8 billion in 2000 to $6.6 billion last year.

net borrowings 04-08