08:02 AM EDT, 03/19/2025 (MT Newswires) -- New Brunswick is projecting a jump in the deficit from $399 million in 2024/25 to $599 million in 2025/26, or 1.2% of gross domestic product, as it prepares to navigate United States tariff uncertainty with the introduction of a contingency fund, said CIBC.

However, the shortfall in the Canadian province is expected to shrink after as that uncertainty fades, with revenue growth anticipated to outpace expenditure growth after 2025/26, leaving the deficit at $144 million by 2028/29, noted the bank.

Borrowing requirements for this upcoming year are increasing to $3.3 billion, up from $1.7 billion due to the higher deficit and higher requirements for NB Power, added CIBC.