by Doug Ashbury
Northern News Services

NNSL (Oct 06/97) - The NWT could emerge from the current fiscal year with an annual surplus, according to Finance Minister John Todd.

Preliminary figures show government could be $9 million in the black by the end of the 1997/98 fiscal year.

Any surplus will pay down the accumulated deficit.

The $9 million represents only one percent of the GNWT's budget.

In February, Todd said government would balance the budget for the first time in four years.

Government slashed its 1996/97 annual deficit a whopping $24 million, Todd added.

Last winter, government predicted an annual deficit of $38 million, but Todd reported Thursday that amount fell to an unaudited $12 million.

The 96/97 deficit means the North's accumulated deficit sits at $41 million.