ontario news watch

Saskatchewan ends fiscal year $182-million surplus, below original forecast

REGINA — The Saskatchewan government says it ended last fiscal year with a $182-million surplus.

Finance Minister Donna Harpauer says higher taxation revenues and the strength of Saskatchewan’s economy helped keep the province in the black.

Saskatchewan had initially forecasted a $1-billion surplus, but larger agriculture expenses reduced that figure.

Harpauer says the province had to spend more on crop insurance payouts to cover last year’s drought.

She says non-cash adjustments related to inflation and pensions also caused expenses to increase.

Harpauer says Saskatchewan has the second lowest net-debt to GDP ratio in Canada and the second highest credit rating.

This report by The Canadian Press was first published June 27, 2024.

The Canadian Press