Province releases 2016-2017 Public Accounts; finishes fiscal year with $1.22 billion dollar deficit

The province is saying the $1.22 billion deficit is “consistent” with its third-quarter financial projections.

This year’s deficit was $914 million higher than they had budgeted for. Finance Minister Kevin Doherty says that the drop in resource prices and a growing population negatively impacted revenue.

“Revenues were down about $400 million from what we had forecasted, primarily in taxation and the renewable resource area,” Doherty said.

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Doherty also said that there was an increase of about $500 million in provincial spending, due in a large part to agriculture and Sask. Crop Insurance.

Since the outset of the budget, the Saskatchewan Party has walked back a few cuts. They have since restored funding to libraries and funeral costs for those on social assistance to name a few.

“I have some concerns that they’ll be able to make their deficit targets in the coming months,” Carla Beck, Crown Investments Corporation critic, said Friday.

Tweet This Click to share quote on Twitter: "I have some concerns that they'll be able to make their deficit targets in the coming months," Carla Beck, Crown Investments Corporation critic, said Friday.

“There was a real concern about the planning that went into this budget.”

Doherty has faith in the plan the government has put forward.

“I’m confident in our plan. I’m confident in our plan in the sense that we’ve made some very difficult decisions in this budget to change our revenue base in this province,” he said.

The province hopes to have the budget balanced in 2019-2020.