Finance Minister Jim Reiter said the Saskatchewan government is now projecting a budget deficit of $427M, citing higher health-care expenses and the cost of fighting the summer's wildfires.

Regina

Saskatchewan's finance minister has released the 2025-26 mid-year budget update, revealing a projected deficit of $427 million. This marks a significant change from the spring budget, which had anticipated a $12 million surplus. The increase in expenses is attributed mainly to wildfires and health care costs, while declining exports and international tariffs have also negatively impacted the province's finances.

The government attributes much of the deficit to global economic challenges, including lower oil and gas prices and tariffs from the U.S. and China. While the government remains optimistic about Saskatchewan's relative position, the opposition NDP has criticized the handling of the budget, alleging mismanagement. The finance minister anticipates another deficit next year and notes ongoing talks with Ottawa over industrial carbon pricing.

Saskatchewan projects $427M budget deficit in mid-year update

Today I'm pleased to deliver the 2025-26 mid-year report. Saskatchewan's finance minister projecting an even deeper deficit, blaming global challenges. Obviously we'd like to be in a balanced situation, but I have to be realistic too. There's not a balanced budget across the country right now. The deficit is a stark shift from the budget announced in the spring, projecting a $12 million surplus, but the province now forecasts a $427 million deficit. Expenses have risen to over $500 million, that jump mainly due to the cost of wildfires and health care. I'd like to be back in a surplus position, but a lot of the economic factors we're dealing with, most of them in fact aren't provincial issues, they're geopolitical issues. Total exports down by $1.4 billion due to lower oil and gas prices, and U.S. tariffs are hurting profits in the forestry and metal sectors, while Chinese tariffs are hitting canola producers hard. Despite those pressures, the government remains optimistic. We are in the best position of any province in the country. But the opposition NDP argues the numbers show mismanagement. We have a government that can't budget, that isn't even honest with the people of Saskatchewan, that wastes dollars in these ways. The government defending its budget says the financial pressures are largely outside of its control. We made the best estimates we could with the information we had at the time. The minister expects next year's budget to also run a deficit. He says talks with Ottawa over the industrial carbon pricing are ongoing and warns the results could deliver another economic blow. Geoffrey Tram, CBC News, Regina.

A suspect is in custody and the scene is secured after a shooting mere blocks from the White House in Washington, D.C., police said Wednesday. DHS Secretary Kristi Noem said two National Guardsmen had been shot.

Washington

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Brazil's Supreme Court on Tuesday ordered far-right former president Jair Bolsonaro to begin serving a 27-year sentence for plotting a failed coup, after he exhausted all appeals.

Rio de Janeiro

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Tsim Sha Tsui

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Brasília

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Caracas

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Khartoum

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Kyiv

Ukraine Invasion

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Tel Aviv-Yafo

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Darfur

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Moscow

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Nha Trang

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Beirut

Middle East Conflict

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Madrid

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Al Fashir

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Peshawar

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London

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Niger

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Johannesburg

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Belém

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Geneva

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Premier Li Qiang said Beijing wants to work with Pretoria to safeguard the multilateral trading system.

Breakdown