Manitoba’s deficit forecasted to be less than $1 billion Fiscal update

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WINNIPEG — The Manitoba government is looking at a lower-than-expected deficit.

A fiscal update from the province says it is now projecting $872 million in red ink for the fiscal year that ends March 31.

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That’s $39 million lower than originally expected in last year’s budget, and $128 million lower than forecast in the last fiscal update in December.

Finance Minister Cameron Friesen says the province is taking in a little more money than expected from income taxes and fees.

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But he says the province’s overall debt and the possibility of rising interest rates are big concerns.

The Progressive Conservative government was elected last year on a promise to eliminate deficits within eight years, and to cut one point off the provincial sales tax by 2020.

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