B.C.'s declining finances are painting a grim picture for the future if spending and borrowing guides are not exercised.
Unless economic growth improves, this situation could lead to significant tax increases and a reduction in spending to stabilize the economy, according to the report. The projected deficit represents 2.1 per cent of the GDP, greater than the 2020-21 period during the pandemic, where the deficit sat at 1.8 per cent of the GDP.
S&P Global has downgraded the province's credit rating three times in the last three years, now labelling the provincial government's bonds as "AA-" with a negative outlook.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Worried about Goldman Sachs’ bleak market prediction? Here’s how to prepare if it happensGoldman Sachs’ gloomy forecast has set the investment world abuzz
Source: globebusiness - 🏆 31. / 66 Read more »
Beware of Halloween scams, warns Better Business Bureau of B.CKeep an eye out for scams and tricks this trick or treat season, warns the The Better Business Bureau (BBB) of B.C.
Source: CHEK_News - 🏆 59. / 55 Read more »
B.C.'s late entry to LNG market carries 'significant economic risk': U.K. report findsUnsanctioned B.C. LNG projects were forecast to produce gas 26% more expensive than the global average, and up to 80% pricier than bulk producers like Qatar — raising questions over whether the province can recoup its investments.
Source: PGCitizen - 🏆 65. / 51 Read more »
B.C.'s late entry to LNG market carries 'significant economic risk': U.K. report findsUnsanctioned B.C. LNG projects were forecast to produce gas 26% more expensive than the global average, and up to 80% pricier than bulk producers like Qatar — raising questions over whether the province can recoup its investments.
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »