REGINA — Saskatchewan’s books for the 2016-17 fiscal year are now official and they confirm a $1.2-billion deficit. That’s $914 million higher than budgeted in March 2016, even with a positive adjustment for pensions. The deficit is due in large part to the ongoing impact of low resource prices on the provincial economy. Fiscal documents show lower resource income was far-reaching and affected taxation revenues, which came in $510 million lower than budgeted. The first-quarter report for 2017-18, which will give an early indication of what impact the government’s austerity measures have had, is to be released by late August.

Source: National Post July 21, 2017 22:07 UTC