Finance Minister Selina Robinson reports the 2020-21 fiscal year deficit was $5.468 billion.

Robinson says some sectors of the economy did better than expected during the COVID-19 pandemic.

She also says the government spent just under $10.1 billion last year on COVID relief programs for people and businesses.

The government had projected a deficit as high as $13.6 billion at one point; Robinson says a deficit of just under $5.5 billion is “much better” than the worst case scenario.

NL News will update this story as more information is gathered.

More to come.