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Government says economic outlook is good, province is on track for balanced budget in 2019
Published Thursday, November 29, 2018 9:50AM CST
The Saskatchewan government says its 2018-19 budget remains on track in mid-year for a projected deficit of $348M. That’s a $17M improvement over what was forecast in the April 10 budget.
Finance minister Donna Harpaur says the province’s economic outlook has improved slightly, with the revenue forecast up $138M from budget, which has helped reduce the projected deficit.
That was largely fueled by Crown corporation profits and a slight improvement in oil and gas revenue; however it was offset by lower tax revenue and increased expenses for pensions, social services and health.
Overall public debt is $19.78 billion, which is $251.6M lower than budgeted. It includes Crown corporation and government infrastructure expenses.
The government expects to present a balanced budget next year.