Saskatchewan projects $37-million surplus in mid-year fiscal update

Saskatchewan projects $37-million surplus in mid-year fiscal update
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REGINA — The Saskatchewan government’s mid-year fiscal update shows the province is still on track to finish in the black this fiscal year.

The Ministry of Finance is forecasting a thin surplus of $37 million, which is slightly more than what was predicted in the spring budget.

The government says revenue forecasts are about $329 million higher than budget, largely due to higher federal transfers and non-renewable resource revenue.

It says there’s also an increase in tax revenue, including $3.8 million through the Cannabis Excise Tax.

Forecasted expenses are also $326 million higher than budget, mostly because of a non-cash pension expense.

Finance Minister Donna Harpauer says in a statement that the government will continue to manage its spending.

The government’s 2019-20 spending plan is the first one in years that projects a balanced budget, fulfilling a three-plan that started under former premier Brad Wall.

The Canadian Press

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