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Saskatchewan budget

Saskatchewan: Budget 2024 - Low Debt Burden Maintained Despite Return to Deficit

March 20, 2024
Marc Desormeaux, Principal Economist • Kari Norman, Economist

Saskatchewan’s fiscal year 2024–25 (FY2025) penciled in deficits in FY2024 and FY2025—in contrast to last year’s plan—but then baked surpluses in from FY2026 to FY2028.

Despite that deterioration, the province maintains one of the smallest public debt burdens in Canada, as measured by the net debt-to-GDP and debt service-to-revenue ratios.

New measures largely amounted to detailed spending forecasts. Expenditures in health, education and social services and assistance are all expected to rise by between 1% and 4% in the coming fiscal year.

The province expects to borrow $4.4B in FY2025.

NOTE TO READERS: The letters k, M and B are used in texts, graphs and tables to refer to thousands, millions and billions respectively. IMPORTANT: This document is based on public information and may under no circumstances be used or construed as a commitment by Desjardins Group. While the information provided has been determined on the basis of data obtained from sources that are deemed to be reliable, Desjardins Group in no way warrants that the information is accurate or complete. The document is provided solely for information purposes and does not constitute an offer or solicitation for purchase or sale. Desjardins Group takes no responsibility for the consequences of any decision whatsoever made on the basis of the data contained herein and does not hereby undertake to provide any advice, notably in the area of investment services. Data on prices and margins is provided for information purposes and may be modified at any time based on such factors as market conditions. The past performances and projections expressed herein are no guarantee of future performance. Unless otherwise indicated, the opinions and forecasts contained herein are those of the document’s authors and do not represent the opinions of any other person or the official position of Desjardins Group.