“While we have seen a small increase in revenue from oil prices, we continue to face significant expense pressures, particularly with regard to utilization in health care and our correctional facilities,” Finance Minister Jim Reiter said in a statement. (Image Credit: Roman Hayter/CKOM)

By CKOM

Money Talks

Saskatchewan ended 2025-26 fiscal year with $947 million operating deficit

Jun 30, 2026 | 1:21 PM

Saskatchewan finished the 2025-26 fiscal year with an operating deficit of $947 million.

That figure, included in public account documents released on Tuesday, represents a significant drop from the $12 million surplus projected by Finance Minister Jim Reiter when the provincial budget was tabled in March of 2025.

The Saskatchewan Ministry of Finance noted that the year-end deficit was $960 million lower than the surplus Reiter initially predicted, the government was able to end the fiscal year with a deficit $263 million lower than it had projected during the third quarter.

The ministry said revenue rose by “a modest $77 million” beyond what was included in the budget, but expenses jumped by $1 billion over the same period. The higher revenue came through “other own-source revenue,” though that extra income was offset by “notable decreases in net income from government business enterprises and taxation revenue.”

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“Our government will continue working to reduce expenses while prioritizing affordability relief for Saskatchewan residents.”

The finance ministry said total expenses in 2025-26 rose to $22 billion, which was 4.9 per cent higher than the budget forecast. The factors behind the rising expenses included higher demand for health-care services and the provincial government’s response to the devastating wildfire season in 2025. An independent review performed by MNP found the province and its public safety agency were not fully prepared for the scale of the wildfires.

“While net debt increased by $1.5 billion in 2025-26, Saskatchewan maintains the second lowest net debt-to-GDP ratio and has the best credit rating in Canada,” the ministry noted.

The province tabled a budget with a $819.4 million deficit for 2026-27, but promised that taxes will be reduced and services will not be cut.

by CKOM

Saskatchewan ended 2025-26 fiscal year with $947 million operating deficit

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