Learn more about COVID-19 in Saskatchewan. Daily case numbers and information for businesses and workers.

The Re-Open Saskatchewan plan was released on April 23rd.

<p><strong>Google Translate Disclaimer</strong></p> <p>A number of pages on the Government of Saskatchewan's website have been professionally translated in French. These translations are identified by a yellow box in the right or left rail that resembles the link below. The home page for French-language content on this site can be found at:</p> <p><a class="btn-application" href="~/link.aspx?_id=D678FFBC890C446F8B52E01E2657035D&amp;_z=z">Renseignements en Fran&ccedil;ais</a></p> <p>Where an official translation is not available, Google&trade; Translate can be used. Google&trade; Translate is a free online language translation service that can translate text and web pages into different languages. Translations are made available to increase access to Government of Saskatchewan content for populations whose first language is not English.</p> <p>Software-based translations do not approach the fluency of a native speaker or possess the skill of a professional translator. The translation should not be considered exact, and may include incorrect or offensive language. The Government of Saskatchewan does not warrant the accuracy, reliability or timeliness of any information translated by this system. Some files or items cannot be translated, including graphs, photos and other file formats such as portable document formats (PDFs).</p> <p>Any person or entities that rely on information obtained from the system does so at his or her own risk. Government of Saskatchewan is not responsible for any damage or issues that may possibly result from using translated website content. If you have any questions about Google&trade; Translate, please visit: <a href="https://support.google.com/translate/?hl=en"><strong>Google&trade; Translate FAQs</strong></a>.</p>

Government Releases Preliminary Revenue Impacts

Released on April 17, 2020

The Government of Saskatchewan today provided a range of preliminary revenue impacts, using three different scenarios related to the economic impact of the COVID-19 pandemic.

The potential revenue decline in 2020-21 ranges from $1.3 billion to $3.3 billion, depending on the duration of pandemic-related economic restrictions.

“We are less than three weeks into the new fiscal year and right now we just don’t know how long restrictions will remain in place in Saskatchewan, in Canada and around the world,” Finance Minister Donna Harpauer said.  “That’s why it is still incredibly difficult to forecast with any certainty.  We believe however it is important that we release these different scenarios, to let Saskatchewan people know just how much of an impact the pandemic is having on our economy and revenues.”

The potential revenue declines are based on three economic scenarios.  Each scenario includes assumptions on a number of economic factors, including the duration of current economic restrictions, how soon resource prices may recover and anticipated consumer behaviour once restrictions are lifted.

Real GDP scenarios for 2020 are all negative and range from a decline of 4.1 per cent under the most optimistic scenario to a decline of 14.9 per cent in the most pessimistic scenario.  At this time, the Government is managing spending within the amounts allocated in the budget estimates released on March 18, 2020.

“Our government has committed to provide all financial resources necessary to address the COVID-19 pandemic, and this will likely result in spending increases beyond the amounts allocated in the 2020-21 Estimates,” Harpauer said.

Harpauer pointed to strong management of the province’s finances as providing a solid fiscal foundation from which to manage the pressure from the current pandemic crisis and ultimate recovery.

Saskatchewan was on track for a surplus in 2019-20 and 2020-21 prior to the COVID-19 pandemic and oil price collapse.  Saskatchewan has maintained the second highest credit rating in the country, continues to have among the lowest net-debts as a percentage of GDP and continues to maintain a solid cash position.

“The 2020-21 deficit is not a structural deficit,” Harpauer said.  “It is a pandemic deficit.  Saskatchewan will manage through this, because we have the strength, the foundation and the people to do it.”

-30-

For more information, contact:

Jeff Welke
Finance
Regina
Phone: 306-787-6046
Email: jeff.welke@gov.sk.ca
Cell: 306-536-1185

We need your feedback to improve saskatchewan.ca. Help us improve