Manitoba deficit edges up slightly, net debt up $1.4B

WINNIPEG – Manitoba’s deficit for the last fiscal year ended up slightly higher than expected.

The year-end report shows the government ran a deficit of $522 million, $4 million higher than originally budgeted.

The net debt jumped by $1.4 billion and now stands at $17.3 billion.

The government has been running consecutive deficits since 2009 and is aiming to balance the budget in two years.

A major credit rating agency recently downgraded the province’s fiscal outlook, saying the government will be challenged to stop the red ink.