Looking closely, it doesn't actually seem to be monospaced. For instance in the last-but-two line the "t" in "we project" is pretty much midway between the two

Looking closely, it doesn't actually seem to be monospaced. For instance in the last-but-two line the "t" in "we project" is pretty much midway between the two letters of "it" in the line below it. The text has been justified I think both by increases in inter-word spacing and by putting slightly more space between letters as necessary.