WINNIPEG, Manitoba (Reuters) - The western Canadian province of Manitoba expects its current-year fiscal deficit to be slightly smaller than previously forecast, Finance Minister Scott Fielding said on Wednesday.
Manitoba looks to finish the 2018-19 fiscal year, which ends March 31, with a C$518 million ($385.53 million) deficit, down from the C$521 million shortfall it budgeted in March, Fielding said in a statement.
Manitoba has run deficits for a decade, after a major flood and economic downturn blew a hole in its finances. The provincial economy depends on agriculture, manufacturing and mining.
The Progressive Conservative government led by Premier Brian Pallister has promised to balance the budget by 2024, requiring a second term in office.
Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by James Dalgleish