First quarter deficit lower than expected

The province’s first quarter deficit will be smaller than anticipated, due to improved non-renewable resource revenues and performance from crown corporations.

The deficit came in at $306 million, compared to the original projection of $365 million.

article continues below

“Three months into the fiscal year, we’re seeing a growing economy and an improving fiscal picture,” said local MLA and finance minister Donna Harpauer. “Our government continues to manage spending carefully, invest in priorities for Saskatchewan people, shift from our reliance on volatile resource revenue and help keep our economy strong.”

Both income and expenses were higher than predicted, with revenues at $14.4 billion – $171.5 million higher – and expenses at $14.7 billion – $112.3 million higher.

On the revenue side, increases in oil, natural gas and potash prices will see non-renewable resource revenues go up by $135.3 million. Revenues from uranium, coal and other minerals are going down. Crown corporations are $36.2 million more than expected, with most of that coming from SaskPower electricity exports.

On the other side of the ledger, health expenses are going up $20 million more than expected due to increased use, social services and assistance expenses are going up $20 million due to caseload increases in child and family services, forest firefighting operations will see $17 million more, and pension expenses are up $55.3 million due to higher interest rates.

© Copyright 2018 Humboldt Journal

Comments

NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Humboldt Journal welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Community Event Calendar


Find out what's happening in your community and submit your own local events.

Popular Local News