The Manitoba government says its deficit for the last fiscal year was $832 million, about half of what it projected earlier in December. Premier Wab Kinew and Finance Minister Adrien Sala released the province’s audited public accounts for 2025-26 on Monday. The figure is roughly half the $1.66 billion deficit forecast in the third-quarter update, and slightly higher than the $794 million estimated in the spring budget. “This puts us on track to balance the budget next year, just like we promised,” Kinew said at a news conference. The finance minister said the latest result is a “significant improvement” from the forecast, particularly given the challenges the province faced. He pointed to U.S. tariffs, the worst wildfire season in 30 years, and significant drought. “We have a lot to be proud of,” Sala said. The government also announced a $600-million deposit into its fiscal stabilization fund, commonly known as the rainy-day fund. It is the first deposit in five years and the largest in more than 20 years, according to the province. The government has previously promised to balance the budget by the 2027-28 fiscal year. This is a developing story and will be updated.
