Finance Minister Donna Harpauer is expected to announce a provincial deficit of $1-billion on Friday, thanks to COVID-19.
Harpauer says a decline in oil, PST and corporate taxes are all at play.
She added it could take years to recover from this deficit, as the province will be challenged to find solutions to get back to a balanced budget.
Moody’s maintained Saskatchewan’s Triple A credit rating earlier this week, citing the province’s $1.3-billion cash surplus and its fiscal position following several years of economic growth.
Harpauer said that news is good to hear, as it will do many things including build investor confidence in the province down the road.
