We will get an update on New Brunswick’s fiscal situation on Tuesday afternoon.

Finance Minister Ernie Steeves will announce the government’s second-quarter results.

The province initially budgeted a surplus of just over $40 million for the 2023-24 fiscal year.

However, first-quarter projections showed a surplus of just under $200 million, nearly five times higher.

Steeves said in August that while the results are encouraging, he is treating the surplus cautiously.

The minister said he is not seeing the same early signs of windfalls that were seen in the last few years.

New Brunswick ended the 2022-23 fiscal year with a $1 billion surplus, well above the projected surplus of $35.2 million

The year before that, in 2021-22, New Brunswick had a surplus of $777.3 million, compared to a projected deficit of $244.8 million.

More to come.