Saskatchewan Finance Minister Jim Reiter is scheduled to release the province’s midyear fiscal update today, offering a clearer picture of the government’s financial position halfway through the budget year.
Premier Scott Moe’s government initially projected a modest $12-million surplus when it introduced the budget earlier this year. However, economic headwinds have since prompted a major revision. By August, the province was forecasting a $349-million deficit, citing ongoing volatility linked to global uncertainty — including Chinese tariffs on Canadian canola.
At the time, Reiter cautioned that the province’s revenues continue to fluctuate as Saskatchewan and other jurisdictions manage the impacts of unpredictable global markets.
The first-quarter fiscal update estimated total revenue for the year at $20.9 billion, with expenses expected to reach $21.2 billion. The province also anticipated a $30-million drop in non-renewable resource revenue, driven by weaker oil prices and a higher Canadian dollar.
Today’s midterm update will provide the latest projections and outline whether the province’s fiscal picture has further deteriorated or begun to stabilize.
