WINNIPEG, Manitoba, Dec 19 (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 (NYSE:PGR) Conservative government led by Premier Brian Pallister has promised to balance the budget by 2024, requiring a second term in office. ($1 = 1.3436 Canadian dollars)