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HomeNewsHay River NewsGNWT's net debt increased by $106M last year from 2015

GNWT’s net debt increased by $106M last year from 2015

The GNWT’s net debt increased by over $106 million last year according to public accounts from the Department of Finance. 

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The territorial government had $777 million in debt in 2015. That numbed bumped up to $883 million in 2016.

Most of that increase was a result of work on large projects like the new Stanton Territorial Hospital and the Mackenzie Valley Fibre Link project.

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At the same time, the surplus grew from $1.9 billion in 2015 to $2 billion in 2016.

Liabilities, which include things like short-term loans and long-term debt, grew by $100 million.

The government didn’t bring in as much money as expected in 2016, but its expenses were also lower.

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