Drop in oil prices helps push N.L. deficit forecast up by 68 per cent to $626M

News Room
By News Room 2 Min Read

ST. JOHN’S – The deficit forecast for Newfoundland and Labrador has been revised upward by almost 70 per cent, primarily due to a volatile oil market and a stronger Canadian dollar. 

Finance Minister Siobhan Coady says the province’s revenues for the current fiscal year will be $254 million less than she forecast in the 2025-26 budget delivered in April.

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