March 18, 2020 / 8:01 PM / 21 days ago

Canada's Saskatchewan unveils fiscal plan with no revenue forecast due to virus

WINNIPEG, Manitoba, March 18 (Reuters) - The Canadian province of Saskatchewan on Wednesday unveiled its spending plans for the upcoming 2020-21 fiscal year, but the fiscal plan contained none of the usual revenue forecasts, due to economic uncertainty from the spread of the coronavirus.

The western province, which depends heavily on oil, gas and potash revenues, said it would spend C$14.15 billion ($9.68 billion), an increase of 3.1%.

“This is an unprecedented and challenging time in our province, our country and the world,” Finance Minister Donna Harpauer said in a statement.

Saskatchewan intends to spend C$5.77 billion on health, an increase of 3.8%, in the fiscal year starting April 1.

In a research note, TD Economics forecast a 0.4% decline in calendar 2020 in Saskatchewan’s real gross domestic product. In calendar 2019, Saskatchewan’s real GDP grew 0.6%. ($1 = 1.4619 Canadian dollars) (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Peter Cooney)

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