Government of Saskatchewan Releases 2026-27 First Quarter Report

CANADA, August 27 - Released on August 27, 2026

Saskatchewan is forecasting an $825 million deficit at first quarter, with total revenue forecast at $21.7 billion and total expense forecast at $22.6 billion. This compares to a projected $819 million deficit in the 2026-27 budget.

"Today's update demonstrates our government's commitment to responsible financial management while continuing to invest in the programs and services Saskatchewan people rely on," Deputy Premier and Finance Minister Jim Reiter said. "While there continues to be uncertainty in the global economy, Saskatchewan's strong economic fundamentals and fiscal position provide a solid foundation to meet the needs of Saskatchewan people and communities."

Total revenue is forecast to be $331 million higher than budget at first quarter, primarily due to non-renewable resources revenue forecast to be $320 million higher than budget. Higher-than-expected oil prices due to the ongoing conflict in the Middle East has resulted in the West Texas Intermediate oil price forecast being increased to US $75.00 per barrel compared to a projected US $59.75 per barrel in the 2026-27 budget.

Total expense is forecast to be $337 million higher than budget at first quarter, primarily reflecting pressures across the health system due to growing service demand, inflation and compensation costs. Additional expense pressures are forecast for flood-related response and recovery efforts and higher Crop Insurance claims resulting from unseeded acres due to excess moisture in the spring.

"Our government remains focused on ensuring Saskatchewan people have access to the programs and services they need, while responding to emerging pressures and protecting the province's strong fiscal foundation," Reiter said. "We will continue to make responsible decisions that support Saskatchewan's economy, communities and long-term fiscal sustainability."

Saskatchewan's economic outlook has improved since the release of the 2026-27 budget, supported by strong construction activity and an improved commodity outlook. Saskatchewan is expected to remain one of the fastest-growing provincial economies over the next two years, with real Gross Domestic Product (GDP) growth projected to rank third-highest among provinces in 2026 and second-highest in 2027. Exports have increased 11.6 per cent year-to-date through June compared to the same period in 2025, while economic activity continues to be supported by new major private-sector projects and strong housing construction activity.

Saskatchewan's net debt-to-GDP ratio is projected to be 14.9 per cent as of March 31, 2027, an improvement from the 16.1 per cent projected in the 2026-27 budget. Saskatchewan's net debt-to-GDP ratio remains the second-best among all provinces. Saskatchewan also continues to have the highest credit rating among provinces.

The Government of Saskatchewan's 2026-27 First Quarter Financial Report can be found at www.saskatchewan.ca.

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