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Manitoba government records $832M deficit in last year’s budget
Higher tax revenue left the province with an $832 million shortfall, while Manitoba Hydro’s drought-related loss deepened the pressure.
- On Monday, Manitoba reported an $832 million deficit for the last fiscal year, significantly lower than the government's December forecast of $1.66 billion but comparable to the initial March 2025 projection of $794 million.
- The deficit improvement was driven primarily by an additional $558 million in tax revenue, which helped offset lower federal transfers and significant losses from Manitoba Hydro.
- Manitoba Hydro reported a $446 million net loss due to drought conditions, a massive swing from the $220 million profit originally budgeted by the Crown corporation.
- Premier Wab Kinew announced the government will add $600 million to the fiscal stabilization fund, more than doubling the $585 million currently held in reserve.
- Kinew said the improving financial picture signals his government is on track to balance the provincial budget by 2027-28, a commitment made during the last election.
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Coverage Details
Total News Sources10
Leaning Left4Leaning Right1Center2Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 29%
14%
Factuality
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