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Province predicts $485-M deficit for 2013-2014

The Selinger government says its plan to balance the books by 2016-2017 is on target.

This morning, Finance Minister Jennifer Howard released her department’s second-quarter financial report for the 2013-2014 fiscal year. It projects a $485-million deficit for the year, a $33-million improvement over the $518-million shortfall predicted in April.

"We’re committed to getting back to balance and we’ll do that by building our province, creating good jobs for Manitobans and supporting steady growth in our economy," Howard said in a release.

Last year, the province posted a $580-million deficit.

The report shows that core government expenditures this year are projected to be $41 million higher than anticipated in the spring budget. However, when Crown corporations and other government agencies are factored in, spending is expected to be $36 million less than budgeted.

 

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