Spending up, revenues too, Krawetz says
Coping with Saskatchewan's floods earlier this year will cost an estimated $240 million, according to the province's latest financial update.
But Finance Minister Ken Krawetz says the flood expenses won't put the province into deficit. While spending is up, revenues are up as well, he said.
The province now expects to take in an extra $207 million in potash revenues compared to previous estimates, with much of the extra money coming from higher prices and sales.
The flood expenses are being offset by $109 million in federal contributions, the mid-term financial update says.
The province is on track to finish the fiscal year with a $25 million surplus, the report says.
Given the uncertainty in the global economy, the government intends to be cautious as it prepares its next budget, Krawetz said.