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15.04.2016 16:32:00
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Newfoundland and Labrador, Province of -- Moody's: Newfoundland and Labrador's Budget Confirms Difficult Fiscal Outlook
Toronto, April 15, 2016 -- Moody's Investors Service noted today that the 2016/17 Budget of the Province of Newfoundland and Labrador (Aa2, negative) forecasts a deficit of CAD1.8 billion (27% of revenue) with declining deficits to follow. While the Budget as presented indicates deficits will continue through 2022/23, the government has indicated that it will continue to seek further revenue and expenditure measures beyond those presented with a target of returning to surplus in 2022/23.
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