Finance minister Mike de Jong has released the government's annual public accounts.
The audited financial statements show the deficit for 2012-2013 was $1.15 billion – that’s about $178 million more than what the government had budgeted for.
That means cabinet ministers will take a 10-per-cent pay cut for not balancing the budget.
The economy grew by 1.7 per cent last year. The government says that is fourth among provinces.
Natural resource revenue took a big hit as the economy softened a little bit, but the Liberals saying they are on track to balance the budget in this fiscal year.