N.W.T. asking to increase federal borrowing limit - News Summed Up

N.W.T. asking to increase federal borrowing limit


She said the territory is asking the federal government for financial help due to emergency responses and health care expenses. (Julie Plourde/Radio-Canada - image credit)The Northwest Territories finance minister described the territory's financial situation as dire and says the government is in the process of asking the federal government for more money. "Requesting a borrowing limit increase is necessary to ensure we have the capacity to respond to expenditure shocks that have become more frequent," Wawzonek said. The debt cap is a borrowing limit on Canada's territories imposed by the federal government, and it's not the first time the N.W.T. 's current cap is set at $1.8 billion, up from $1.3 billion at the start of 2020.


Source: CBC News October 18, 2024 19:01 UTC



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