Newspaper article The Canadian Press

It's Final: Saskatchewan End-of-Year Numbers Confirm $1.2B Deficit

Newspaper article The Canadian Press

It's Final: Saskatchewan End-of-Year Numbers Confirm $1.2B Deficit

Article excerpt

Saskatchewan deficit still stands at $1.2B

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REGINA - Saskatchewan's books for the 2016-17 fiscal year are now official and they confirm a $1.2-billion deficit.

That's $914 million higher than budgeted in March 2016, even with a positive adjustment for pensions.

The deficit is due in large part to the ongoing impact of low resource prices on the provincial economy.

Revenues from non-renewable resources were down by the end of the year by $185 million.

Fiscal documents show lower resource income was far-reaching and affected taxation revenues, which came in $510 million lower than budgeted.

Other budgetary pressures included elevated crop insurance claims from a poor harvest in parts of the province and an increased use of education, health and social services. …

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