Saskatchewan tightens money belt to save $102M and cover drop in potash revenue

The Saskatchewan government is tightening its belt to help deal with a projected $1.3-billion drop in potash revenues this fiscal year.

REGINA — The Saskatchewan government is tightening its belt to help deal with a projected $1.3-billion drop in potash revenues this fiscal year.

Finance Minister Rod Gantefoer says the province has found just under $102 million in savings through what it calls “a government-wide cost restraint exercise.”

The province is going to push back spending on capital projects, not fill vacant government jobs and cut back on travel in the civil service.

Gantefoer says the University of Saskatchewan has returned just over $32 million for a building, and provincial ministries saved almost $50 million because funding needed for some programs was less than anticipated.

The finance minister says volatility in commodity markets has created uncertainty for government revenues, which have relied heavily on potash.

But Gantefoer says Saskatchewan’s overall economy is still strong compared with other provinces.

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