Manitoba government records $832M deficit in last year’s budget

Final figures for Manitoba's budget for 2025 have been released, revealing a $832 million deficit for the fiscal year that concluded in March. The government's audited accounts indicate that the deficit matches the initial estimate for the year, which had been set at $794 million. Premier Wab Kinew's administration had been projecting a deficit in the range of $794 million to $832 million throughout the year.

In a surprising turn of events, individual, corporate, and other taxes brought in $558 million more than anticipated, while Manitoba Hydro reported a $446 million deficit due to drought conditions. This contrasted sharply with the originally budgeted profit of $220 million for the Crown corporation.