Finance Minister, the Hon. Jim Reiter released the provincial government’s mid-year financial report and reported a significant increase in the deficit primarily attributed to agricultural insurance claims.
The 2024-25 Mid-Year Report forecasts a deficit of $743.5 million at mid-year, an increase of $470.4 million from budget.
Partially offsetting the expense increase, total revenue is forecast to increase by $275.1 million, or 1.4 per cent, from budget.
Population and employment growth remain strong, while the province also had the second-fastest growing economy in the country in 2023, as measured by growth in real GDP at 2.3 per cent.
The detailed report can be found here: https://publications.saskatchewan.ca/api/v1/products/125080/formats/146240/download
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