Stephen McNeil said he was pleased the budget recommitted to the national shipbuilding procurement contract and infrastructure spending, but disappointed there wasn't more support for immigration.
"We were hoping they would allow that file to be handled more by provinces and allowing each province to respond to its own unique needs when it comes to its population challenges," said McNeil.
As for infrastructure, he said it won't hurt the province that the money won't kick in for another two years.
The budget says the first $750 million will be spread over two years, with a billion dollars spent annually after that.
McNeil said there is money for roads and buildings under the current federal program, which is winding down.
But he said his government would likely take a hit from the increase to the tax-free savings accounts.
"It's good for Canadians, but there would be an adjustment for us too on the tax side," he said.
McNeil said it would take a few days before his government would know what effect the change would have on its bottom line.
The federal government increased the annual contribution limits to tax-free savings accounts to $10,000 from $5,500, effective this year.
McNeil said there was nothing in the budget "at first blush" that would cause the province the kind of harm when Ottawa decided to fund health care on a per capita basis.