The Saskatchewan government’s first-quarter report projects a deficit of $354M, up $80.6M from the original projection of $273.2M.
“At first quarter, we continue to have a strong fiscal picture, including a decline in net debt and improvements in several key economic indicators,” said deputy premier and finance minister Donna Harpauer.
“Our government will continue to manage spending while committing to make record investments in priority programs and services.”
The report showed revenue increased $91.9 million due to improvements in fees, investment income and miscellaneous income.
Private sector forecasts reflect strength in the provincial economy during the first half of 2024. This includes several all-time record highs in the labour market.
Saskatchewan had the second fastest-growing economy among provinces in 2023, as measured by real GDP, at 1.6 per cent.
According to the most recent average private sector forecast, real GDP is expected to grow by 1.3 per cent in 2024—the third-highest among provinces—and up from the 1.0 per cent projected at budget.
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