Report title: Canadian Provinces Meeting Challenges Posed by Economic Uncertainty: Debt Profiles Likely to Improve over the Medium Term
from Moody's Global Credit Research
8 page (4557 word) report published May 05, 2003

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About Moody's Global Credit Research

...Moody's outlook for the Canadian provincial government sect or continues to be positi ve. A challenging economic environment and continued spending pressures has affected ma ny provinces' fiscal positio ns negatively, but Moody's does not view this slippage as signalling a fundamental change in fiscal policy. In our view, the laissez-faire attitude toward deficit financing that existed in Canada in the 1980s and early 1990s is not likely to return. The fiscal approach of the provinces is now characterized by prudent economic and revenue forecasting and a realization that spending growth must be controlled. This is not to imply that th ere are no risks to the outlook; indeed, the Canadian provinces continue to face significant challenges, primarily on the ex penditure side of the ledger. Nonetheless, we expect that the fiscal outcome for the sector as a whole will remain balanced or slightly positive over the medium term. ...

Report Type: Special Comment
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