Nova Scotia’s auditor general says the province approved $ 1.1 billion in additional loans during 2020-21 to cover capital costs and relief from the COVID-19 pandemic.
Auditor General Kim Adair’s financial report released today also notes that with reduced tax revenue, the province fell into a deficit of $ 342 million in 2020-21, a significant drop from the originally budgeted $ 55 million surplus.
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In addition, the provincial GDP fell in 2020, 2.2 percent less than the 2.4 percent increase forecast in the provincial budget.
Adair says the province’s financial outlook is understandable given the ongoing pandemic, but the government needs a long-term recovery plan to get out of its current economic position.
It also says that the pandemic highlighted the need to strengthen cybersecurity measures amid high demand for remote access to government networks by public service employees.
She says, however, that the province has failed to finalize the rules to govern cybersecurity or implement cybersecurity training for all government workers.
This Canadian Press report was first published on December 7, 2021.
© 2021 The Canadian Press
Reference-globalnews.ca