The Saskatchewan government is allowing itself to borrow $6-billion dollars in case they ever need that money for things like infrastructure spending.
The province is spending $1.6-billion on capital projects this year and adding $2.3-billion in debt.
The SaskParty government mentioned in a statement the province’s infrastructure needs are significant and will continue to make investments in schools, hospitals, highways, among others.
They add this will allow them flexibility and the ability to capitalize on borrowing opportunities including low interest rates.
Saskatchewan’s overall deficit is now on track to go up each year until 2021, when it’s expected to be around $22.8-billion.
NDP Finance Critic Cathy Sproule says this move is confirmation that the provincial government is spending out of control, adding the SaskParty is not able to manage with the money they’re bringing in.