Manitoba government records $832M deficit in last year’s budget
The final number is in for last year’s Manitoba budget – and it’s an $832-million deficit.
The province, in its audited accounts, says that number is in line with its original estimate for the last fiscal year, which ended in March.
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Premier Wab Kinew’s government initially forecast the deficit to be at $794 million and, as the year wore on, that projection moved even further into the red.
His government now says individual, corporate and other taxes ended up $558 million above budget.
Those gains helped offset lower federal transfers and lower than expected profits from Manitoba Hydro.
The Crown corporation reported a $446-million deficit because of drought conditions – a massive swing from the $220 million in profit the government originally budgeted.
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