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Manitoba Government Posts $580 Million Deficit

30.09.2013 15:48

The Manitoba government posted a $580 million deficit in the last fiscal year -- $120 million more than it initially predicted.

 

In its final report on the fiscal year that ended last March, the government says income taxes and federal transfers were slightly higher than expected, but other tax and fee revenues were lower.                                                       

 

Overall spending was also slightly higher than expected.

 

The extra red ink comes at a time when the government has promised to balance the budget by the 2016-2017 fiscal year.