The Capital and Coast District Health Board is forecasting it will be $59.3 million in deficit at the end of the next financial year.
The board appeared before Parliament's health select committee on Wednesday.
Board chief executive Ken Whelan says the recovery plan is to have the operating deficit break even by the 2013-14 financial year.
However, Mr Whelan says he is now only 75% confident they will meet that target.
He believes the recovery plan is achievable but to say it won't be a lot of hard work with a lot of risk would be being naive.