The government is unlikely to keep its promise of balancing the books by the 2017-18 fiscal year.
There is just over a week to go before this year’s budget is released.
In the April 2016 election, the government campaigned on being back in a surplus situation in a particular time frame, but the premier admits that likely won’t happen.
“That’s been the goal and that has been the goal right through the process but we also need to conduct ourselves and the government in a way that doesn’t shock the economy and doesn’t gut public service,” Wall told reporters at the legislature Monday.
“You’ll hear in the coming days as to whether or not that this year balanced budget plan is possible.”
The government has taken a number of cost-cutting measures over the last couple of years to stem the tide in the drop in revenues.
Most recently that includes a reduction in MLA salaries and an across the board target of a 3.5 per cent reduction in compensation for the public sector.
The budget will be announced March 22.