Last week, Finance Minister, Hon. Jim Reiter released the provincial government’s mid-year financial report. It was reported that there was a significant increase in the deficit mainly attributed to an increase in agricultural insurance claims.   

More specifically, the 2024-25 Mid-Year Report forecasts a deficit of $743.5 million at mid-year, an increase of $470.4 million from budget. Overall, total expense is forecast to increase by $745.5 million, or 3.7 per cent, from budget.  

At mid-year, the Saskatchewan economy continues to perform well. Population and employment growth remain strong, while the province also had the second-fastest growing economy in the country in 2023, as measured by growth in real GDP at 2.3 per cent.  

The detailed report can be found here.