July 25, 2012 / 4:03 PM / 5 years ago

NY's MTA projects budget deficit from 2014

NEW YORK, July 25 (Reuters) - New York's Metropolitan Transportation Authority said on Wednesday it would end 2012 with a $46 million cash surplus, but it also presented a financial plan that projects deficits for 2014 through 2016.

The authority said in a statement that after another positive balance in 2013 it projected a $129 million deficit in 2014, a $14 million deficit in 2015 and a $231 million gap in 2016, despite stringent cost control and planned tariff increases.

Reporting by Joan Gralla; editing by M.D. Golan

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