Budget 2022

2022 Newfoundland and Labrador budget summary

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On April 7, 2022, Finance Minister Siobhán Coady tabled Newfoundland and Labrador’s 2022-23 budget (NL Budget 2022). 

The budget’s estimates show that the province projects a deficit of $400 million for the 2021-22 fiscal year, compared to a $826 million deficit projected for the same fiscal year in the previous budget.   

The government anticipates balancing the budget by 2026-27. 

Projections for the next five fiscal years are as follows: 

Year Projected surplus/ (deficit) 
2022-23 ($351 million) 
2023-24 ($309 million) 
2024-25 ($270 million) 
2025-26 ($74 million) 
2026-27 $82 million 

Visit our Budget 2022 hub to learn more about all federal and provincial budgets. 

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