Sask. government reports strong finances for 2021-22 fiscal year
While total revenue increased for the province, drought conditions and COVID-19 increased some expenses according to the government’s public accounts report.
Total revenue was reported as $18.14 billion, up $3.66 billion from the forecasted revenue.
The public accounts report maintained that most categories of revenue increased but higher taxation and non-renewable resource revenue were the largest contributors to the overall increase.
Tax revenue totaled $8.2 billion, an increase of $964.26 million from the forecast, largely due to the higher revenue from corporations as well as individual income taxes and from provincial sales and fuel taxes, the government outlined in its release.
Non-renewable resource revenue totaled $2.92 billion in 2021-22. An increase of 1.59 billion compared to the forecast.
The provincial deficit was an improvement on the forecast. The government anticipated a $2.61 billion deficit but in reality it came out to be $1.47 billion, an improvement of $1.14 billion.
The total expense for the fiscal year for the province was $19.60 billion, up by $2.52 billion from the projection.
This was in large part due to:
- Agriculture expenses of $3.19 billion (An increase of $2.32 billion from the budget projection)
- Health expenses totaling $6.88 billion (A $348 million increase from the budget projection due to pandemic costs)
Public debt was also reported as decreasing by $529 million from the budget projection, to a total of $27.24 billion as of March 31. 2022.
Finance Minister Donna Harpauer stated that the government is pleased with the year-end public accounts report.
"Saskatchewan's improvement through the fiscal year, and our government's strong financial plan has the province back on track," she said in the news release.
“Saskatchewan is poised to be a leader in economic growth among the provinces in 2022 according to private sector forecasts. As our finances are strengthening, we continue to invest in the programs, services and capital projects that our province's people value."
CTVNews.ca Top Stories
'A beautiful soul': Funeral held for baby boy killed in wrong-way crash on Highway 401
A funeral was held on Wednesday for a three-month-old boy who died after being involved in a wrong-way crash on Highway 401 in Whitby last week.
'Sophisticated' cyberattacks detected on B.C. government networks, premier says
There has been a "sophisticated" cybersecurity breach detected on B.C. government networks, Premier David Eby confirmed Wednesday evening.
Police handcuff man trying to enter Drake's Toronto mansion
Toronto police say a man was taken into custody outside Drake's Bridle Path mansion Wednesday afternoon after he tried to gain access to the residence.
Biden says he will stop sending bombs and artillery shells to Israel if they launch major invasion of Rafah
U.S. President Joe Biden said for the first time Wednesday he would halt shipments of American weapons to Israel, which he acknowledged have been used to kill civilians in Gaza, if Prime Minister Benjamin Netanyahu orders a major invasion of the city of Rafah.
Canucks beat Oilers 5-4 in comeback to take Game 1
The Vancouver Canucks won the first game of their NHL playoffs series with the Edmonton Oilers 5-4 on Wednesday night coming back from a three-goal deficit.
Nijjar murder suspect says he had Canadian study permit in immigration firm's video
One of the Indian nationals accused of murdering British Columbia Sikh activist Hardeep Singh Nijjar says in a social media video that he received a Canadian study permit with the help of an Indian immigration consultancy.
Pfizer agrees to settle more than 10K lawsuits over Zantac cancer risk: Bloomberg News
Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal.
Quebec premier defends new museum on Quebecois nation after Indigenous criticism
Quebec Premier Francois Legault is defending his comments about a new history museum after he was accused by a prominent First Nations group of trying to erase their history.
U.S. presidential candidate RFK Jr. had a brain worm, has recovered, campaign says
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his brain more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.