Saskatchewan finance minister to deliver midterm update on budget

Saskatchewan Finance Minister Jim Reiter is set to deliver the midterm update on this year’s provincial budget today.

Premier Scott Moe’s government had forecast a modest $12-million surplus when the budget was introduced.

But it has since revised expectations and as of August expected the final budget number to be a $349-million deficit.

Reiter said at that time the numbers remain volatile as Saskatchewan and other jurisdictions ride out the peaks and valleys of global uncertainty, including Chinese tariffs on canola.

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The first-quarter update pegged total expected revenue for the year at $20.9 billion and expenses at $21.2 billion.

Non-renewable resources revenue was projected to decline by $30 million compared with the budget because of lower oil prices and a higher exchange rate.