Fiscal Sustainability: Canada's Parliamentary Budget Office and the Dwindling Price of Oil
7 Pages Posted: 9 Feb 2016
Date Written: July 1, 2015
The precipitous decline in the price of oil over the past year has raised questions about the sustainability of the budget trajectory in many resource-rich nations. Given the central parliamentary role in the budget process and the singular importance of extractive industries to Canada's fiscal position, the Parliamentary Budget Office (PBO) has provided robust analysis which contextualizes the impact of dwindling oil revenues on the buoyancy of the government's budget balance. This article considers the contribution of the PBO in bolstering parliamentary engagement with extractive industries in the Canadian context under a scenario of depressed international oil prices.
Keywords: Natural Resources, Accountability, Canada, Oversight, Legislative Studies, Oil, Extractive Industries
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