Advertisement

Manitoba’s deficit forecasted to be less than $1 billion: Fiscal update

The province's fiscal update forecasted Manitoba's deficit has dropped to below $1 billion. Global News / File

WINNIPEG — The Manitoba government is looking at a lower-than-expected deficit.

A fiscal update from the province says it is now projecting $872 million in red ink for the fiscal year that ends March 31.

RELATED: Manitoba government set to release 2017 budget in April

Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day.

Get daily National news

Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

That’s $39 million lower than originally expected in last year’s budget, and $128 million lower than forecast in the last fiscal update in December.

Finance Minister Cameron Friesen says the province is taking in a little more money than expected from income taxes and fees.

RELATED: Manitoba can run deficits without pay cuts: bill

But he says the province’s overall debt and the possibility of rising interest rates are big concerns.

Story continues below advertisement

The Progressive Conservative government was elected last year on a promise to eliminate deficits within eight years, and to cut one point off the provincial sales tax by 2020.

Sponsored content

AdChoices