Here's an updated look at Sask.'s revenue, expenses, debt
REGINA -- The Saskatchewan government showed how fiscal projections for the year have changed in this years Mid-Year Report.
The report showed a projection of the province’s revenue, expenses and debt for the 2020-21 fiscal year.
The report includes $260 million in contingency funds to offset the economic challenges presented by COVID-19.
The province is projecting a deficit of $2 billion, which is $381.5 million less than the deficit projected in the 2020-21 budget.
The province has projected revenue for this year at $14.2 billion, a nearly four per cent increase from the last fiscal report. In it's report the province credits greater federal transfers, more "Government Business Enterprise net income" and more revenue from non-renewable resources. The Mid-Year Report also shows a $41.2 million decrease in tax revenue as a result of the small business tax reduction.
Expenses are projected at $16.2 billion, which less than a one per cent increase from the budget. This incudes the $91.7 million spent on the provincial election. The province has $160 million in contingency funds set aside.
The province’s net debt-to-GDP ratios now estimated at 19.6 per cent.