2018-19 Financial Results Show Revenue Up, Deficit Less Than Budgeted

Final results for the 2018-19 fiscal year show notable improvements in Saskatchewan’s finances. The province finished the year with a deficit of $268 million—$97 million lower than budgeted, $112 million less than what was forecast at third quarter, and $35 million less than the prior fiscal year.

In 2018-19, total revenue was $14.45 billion—up $206 million, or 1.4 per cent, from budget, and up $430 million, or 3.1 per cent, compared to the prior fiscal year.

In 2018-19, non-renewable resource revenue was up $253 million, or more than 17 per cent, compared to budget and up $277 million, or 19 per cent, compared to the prior fiscal year. Potash revenue was $536 million in 2018-19, up $228 million, or 74 per cent, compared to budget, and up $227 million, or nearly 74 per cent, compared to the prior fiscal year. Total expense was $14.72 billion in 2018-19—up $108 million, or 0.7 per cent, compared to budget, and up $395 million, or 2.8 per cent, compared to the prior fiscal year. As in previous years, about 72 per cent of government expense in 2018-19 went toward investment into health care, education, and social services and assistance. Looking ahead, Harpauer said the government remains committed to returning the province to balance in 2019-20.