N.W.T. economy shrank 1.9% in 2025, only jurisdiction to contract

Final Statistics Canada figures show the Northwest Territories' economy shrank 1.9 per cent in 2025, driven by the collapsing diamond industry, while every other province and territory grew. Promised federal highway and defence investment may take years to have an effect as fuel and food costs rise. Regular MLAs Kieron Testart and Robert Hawkins introduced a bill to suspend territorial fuel taxes for a year, saving about $15 million, but failed to fast-track it. Finance Minister Caroline Wawzonek questioned how much relief it would deliver and said the territorial government is instead examining a quick fuel subsidy, possibly for heating.