| Advocacy
Province reports deficit of $1.1 billon

FINANCIAL POSITION

The Province experienced a deficit in 2016-17 for the fifth consecutive year. Economic conditions
continued to contract and Newfoundland and Labrador will continue to face fiscal challenges including a
large level of debt. To ensure the future financial health of the Province, it is necessary that the Province
address this fiscal reality through strong financial management of its resources to ensure sustainable
spending levels, generating increased sources of revenues and ensuring the efficient delivery of public
services.

Source: The Province of Newfoundland and Labrador, Public Accounts, Consolidated Summary, Financial Statements, for the year ended March 31, 2017 – http://www.fin.gov.nl.ca/fin/publications/volI_2016-17.pdf

 

 

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