The province of Manitoba announced on Tuesday March 3, 2020 that it is anticipating a deficit of $325 million for the 2019-2020 fiscal year.

That number is about $35 million ahead of government targets.

“Manitoba is showing continued progress toward balancing the budget and steadily reducing the deficit,” said Finance Minister Scott Fielding.  “The third quarter report provides a clear picture of the fiscal year and is indicating revenues are higher than anticipated due to our resilient economy.”

According to the report revenue in the province is up about $248 million compaired to budget projections. The minister says that is due mostly to an increase in income taxes.

Expenses are also up by about $118 million.

© News4.ca 2020