Low oil prices, rising Loonie causing Sask. budget problems
Low oil prices and a rising Canadian Dollar are causing problems for Saskatchewan’s finances.
As of Monday the price of a barrel of oil was steady at $47.50, well below the $55 forecast in the provincial budget.
The Canadian Dollar is also causing problems as it climbs above the forecasted 74.4 cents projected by the government, in recent weeks breaching the 78-cent mark.
The combination isn’t what Finance Minister Kevin Doherty wants to see.