After releasing a controversial budget last year with a deficit near $700 million, a favourable update for the Saskatchewan Party has been given.
At the third quarter, the provincial government says the projected deficit could be down by $101 million to $595 million.
Donna Harpauer, Saskatchewan finance minister, said the reduction in the budget has taken teamwork.
"I think the team has recognized that we have a goal to balance in three years," she explained. "I have to commend all my cabinet colleagues as well as the caucus for supporting all the decisions we've made."
Both expense and revenue are projected to be down, with expenses $273 million (1.8 per cent) less than expected and revenue down $222 million (1.6 per cent).
The Sask Party is aiming to balance the budget for the 2019-20 fiscal year, something Harpauer believes is possible.
"It's very encouraging that the indicators are forcasting growth, so that is extremely encouraging," she stated. "This is not going to be an easy budget that we're going into either. There are going to be tough decisions that need to be made to keep us on track... We are going to have to be very diligent in our decisions for the next budget."
The provincial government attributed the decrease in revenue to lower than expected 2016 assessments for personal and corporate income taxes.