Pre-Budget Consultations for the 2024-25 Operating Budget are now closed

If you have any questions, please email them to budgetsubmissions@gov.pe.ca

The challenges of high interest rates and inflation continue to impact the overall economy – and the construction sector in particular – though pressures are beginning to moderate. Despite these challenges, Prince Edward Island has continued to have a solid economic performance so far this year. Some examples:

  • Real GDP growth on the Island was 2.9% in 2022, the fastest growth east of Ontario.
  • As of July 1, 2023, PEI’s population was 173,787, a new all-time high. At a rate of 3.9 per cent (6,599 persons), Prince Edward Island had the fastest annual rate of growth for the province on record.
  • Employment on Prince Edward Island has increased 4.6 per cent (3,900 persons) on a year-to-date basis through September, the fastest growth amongst provinces.
  • The pace of inflation has been moderating on the Island through 2023, increasing 3.4 per cent on a year-to-date basis through September.
  • The value of manufacturing shipments and exports have grown 12.6 per cent and 20.2 per cent respectively through August, the fastest growth amongst provinces.
  • After a slow start to the year Prince Edward Island saw the second-highest third quarter for housing start on record.

Government is now working on plans for the 2023-2024 operating budget for the province. The budget estimates how much money government might bring in during the year – and how much it expects to spend on programs and services for Islanders.

Finance

General Inquiries

Department of Finance
2nd Floor South, Shaw Building
95 Rochford Street
P.O. Box 2000
Charlottetown, PE, C1A 7N8

Phone: (902) 368-4040
Fax: (902) 368-6575

DeptFinance@gov.pe.ca