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Newfoundland and Labrador Fiscal Snapshot: Winter 2018

The Conference Board of Canada, 14 pages, February 1, 2018
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This “fiscal snapshot” looks at the state of Newfoundland and Labrador’s economy and its government’s fiscal challenges, and provides a short- and medium-term outlook for the province.

Document Highlights

  • Newfoundland and Labrador’s fiscal position has improved substantially since 2015–16 because of tax increases and a slight rebound in oil prices.
  • Despite this improving fiscal situation, economic prospects remain weak, and the province must address an unsustainable level of spending on government services, particularly in areas of health care and education.
  • Controlling expenses is critical to return the fiscal situation to a sustainable path.

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