Opinion: Tone of commentaries suggests province will keep its top credit ratings
DBRS acknowledged this year’s plans “for increased spending in priority areas, continued deficits, and rising debt amid a macroeconomic slowdown,” will reduce the government’s flexibility, fiscally speaking.
“Debt-servicing costs are projected to rise by 13.5 per cent, reflecting an increase in debt and rising interest rates,” reported DBRS. “However, these costs remain relatively low at around four per cent of total revenues.Article content “A clear positive element from the budget is the improved forecast for the debt burden,” wrote Moody’s “Our current forecast of net direct and indirect debt in 2023-24 is approximately $8 billion lower than previous forecasts.
DBRS acknowledges that “growth is expected to slow down significantly in the near term in the face of high interest rates, inflationary pressures, continuing geopolitical tensions, and economic slowdowns among key trading partners. These are the agencies’ preliminary takes on the B.C. fiscal and economic situation. More detailed analysis will follow in mid to late spring.
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