Saskatchewan deficit down to $595M, aiming to balance by 2020: fiscal update

Saskatchewan deficit down to $595M, aiming to balance by 2020: fiscal update

REGINA — The Saskatchewan government’s latest fiscal update shows a dip in the provincial deficit forecast and a slight slip in provincial revenue and expenses.

The third-quarter report projects the 2017-2018 deficit will be $595 million — down $101 million from the red ink outlined in the last budget.

Third-quarter revenue is expected to come in at $13.9 billion, down $222 million or 1.6 per cent from budget estimates.

The government says that’s largely the result of lower than expected 2016 assessments for personal and corporate income taxes.

Expenses are projected to decline by 1.8 per cent, thanks in part to a large reduction in crop insurance claims.

Finance Minister Donna Harpauer says in a statement that her goal is to balance the budget by the 2019-2020 fiscal year.

“Our economy is performing well and is expected to post positive growth for the first time in two years,” Harpauer said Friday. “We will meet our fiscal challenges by controlling spending and ensuring we do what we can to help keep our economy strong.”

The Canadian Press

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