Manitoba’s Finance Minister, Scott Fielding says that the provincial deficit is going to be $470 million by the end of the fiscal year and that is down $51 million from the $521 million that was predicted in the 2018-19 budget.

“For the third year in a row, we are expecting government expenses to be within budget but there is still significant work ahead to fix the province’s finances and return the budget to balance,”  said Fielding.

The minister noted that the Department of Health, Seniors and Active Living is expecting to be under budget by $240 million or 3.5% of their budget with the remainder of departments remaining within budget.

“Despite the progress made, debt-servicing costs continue to negatively impact the province’s ability to invest in health care, education, social services and capital projects,” said Fielding.  “Debt servicing costs are projected to exceed $1 billion in 2018-19 for the first time in Manitoba’s history.”

The provincial budget for 2019-20 will be presented in the legislature on Thursday, March 7, 2019.