Saskatchewan Finance Minister Donna Harpauer and Premier Scott Moe. (Canadian Press)

By Canadian Press

Budget

Saskatchewan forecasts deficit of $354M in first quarter report, up from budget

Aug 29, 2024 | 1:03 PM

The Saskatchewan government is forecasting a bigger deficit this year than it previously predicted.

The province’s first-quarter financial report is projecting a deficit of $354 million this year, up from the $273 million it forecast in its spring budget.

It says it’s a result of increased expenses across departments, including compensation costs under a new collective agreement with provincial employees.

It also says it received more revenues from fees, along with additional income from investments.

Finance Minister Donna Harpauer says Saskatchewan’s fiscal picture is strong and that the government plans to manage spending while investing in services.

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She says Saskatchewan’s real GDP grew by 1.6 per cent last year, the second-highest in the country.

This report by The Canadian Press was first published Aug. 29, 2024.

The Canadian Press