Skip to main content

Canada Saskatchewan projects $262-million deficit as oil prices hit revenue

Saskatchewan Finance Minister Kevin Doherty says a continued decline in oil prices has increased the financial challenge facing the province.

Bayne Stanley/The Canadian Press Images

Tanking oil prices are forcing the Saskatchewan government to put the brakes on spending.

A budget update shows the province is projecting a deficit of $262 million compared with a surplus of just over $100 million that was forecast in March.

Finance Minister Kevin Doherty says a continued decline in oil prices has increased the financial challenge facing the province.

Story continues below advertisement

The province also says there are pressures because of a smaller harvest and a slowing growth in the economies of some of Saskatchewan's major trading partners.

Expenses are up $99 million from the budget, in large part because of the cost of fighting forest fires last summer.

While the province is spending more, it's also bringing in less money because revenue is down $270 million from the original budget forecast.

Report an error
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter