P.E.I. deficit $6.8M lower than budgeted

P.E.I.'s financial situation for the last fiscal year looks a little better than expected, with adeficit of $13.1 million nearly $7million lower than originally budgeted.

Corporate income taxes brought in$21 million more than what was projected, according to the 2015-16 Public Accounts or "blue books" which were tabled Thursday in the legislature

On the expense side, health care came in $13 million over budget.

• Strong economy helps lower deficit, province says

The Public Accounts are an annual financial summary and accountability report of government, and are audited by the auditor general.

"The Public Accounts clearly point to a much stronger financial position for the province," said Finance Minister Allen Roach. "This is the result of strong economic performance and sound financial management as we continue to work towards a balanced budget in the next fiscal year."

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