08/16/2013 02:58 EDT | Updated 10/16/2013 05:12 EDT

Nova Scotia to release updated financial forecast Monday

HALIFAX - The Nova Scotia government says it will release an update on the province's finances Monday.

The update will be delivered by acting finance minister Graham Steele.

Steele said Thursday that Finance Minister Maureen MacDonald is taking time off due to an illness.

The government has said it would release a fiscal update before calling an election.

The NDP is in its fifth year of its mandate, but does not have to call an election until next year.

The party won a majority government in June 2009.

The government tabled a budget with a surplus of $16.4 million forecast for the 2013-14 fiscal year.

Last month, the province released its audited financial statement showing it had a deficit of $302 million for the 2012-13 fiscal year, which ended March 31.