By Canadian Press

Manitoba reports budget surplus for last year, but predicts COVID deficit this year

Sep 29, 2020 | 11:42 AM

WINNIPEG — The Manitoba government has registered its first budget surplus in more than a decade.

Documents show the province ended the 2019-20 fiscal year in March with a razor-thin surplus of $5 million.

It follows a string of deficits that started under the former NDP government in 2009.

The numbers show income tax revenues came in well above expected due to economic growth, and federal transfer payments were slightly higher than forecast.

On the spending side, the government paid out $200 million more than budgeted in health care, but spent $404 million less than expected on infrastructure.

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The government says the surplus is temporary: the COVID-19 pandemic is fuelling what is expected to be a $2.9-billion deficit in the current year.

This report by The Canadian Press was first published Sept. 29, 2020

The Canadian Press