British Columbia’s final deficit for the fiscal year has come in at $7.3 billion, $564 million lower than the original projected number in Budget 2024.

The final deficit unveiled Thursday by Finance Minister Brenda Bailey is also about $1.8 billion lower than the most recent third-quarter forecast.

But the province’s public accounts also show a $23.7 billion increase in taxpayer-supported provincial debt, bringing the figure to $99.1 billion. That’s an increase of more than 31 per cent.

“We will continue to make the tough decisions necessary to make sure every dollar we spend has the greatest impact in the lives of British Columbians,” Bailey said in a news release.

The ministry attributed the debt spike to the province having “supported people through climate emergencies and high cost

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