The Saskatchewan government just released its first quarter report for the first three months of the 2024-25 fiscal year — showing the province has a $354 million deficit.It is $80.6 million more than Deputy Premier and Finance Minister Donna Harpauer initially forecasted."At first quarter, we continue to have a strong fiscal picture including a decline in net debt and improvements in several key economic indicators," said Harpauer.“Our government will continue to carefully manage spending while maintaining our commitment to make record investments in priority programs and services, to ensure strong and vibrant communities.”Harpauer said the government is getting more money from fees and investments but is also spending more. A big reason for the extra spending is that they are paying government workers more after agreeing on a new contract for Saskatchewan Government and General Employees’ Union employees.Despite the bigger deficit, the government pointed out some good news for the province. Saskatchewan's economy is doing well. It grew faster than most other provinces last year.The real GDP sits at 1.3% for 2024, which is second in the country.The government also said it is doing a good job managing its debt compared to other provinces. Saskatchewan calculates its debt using the net debt-to-GDP ratio, which is the second-best in Canada at 13.4% as of March 23, 2025.Saskatchewan is heading into a fall election when voters will decide whether to give Premier Scott Moe another term or NDP leader Carla Beck, who is entering her first election as NDP leader.
