The government of Saskatchewan provided a budget update earlier this week saying they're on track to be under budget.

The mid-year update was given on Thursday by Scott Moe's government, and they're projecting a deficit of $348.3 million, $17 million less in the red than originally forecast back on budget day.

"While we're on course, we recognize there is still work to do," Saskatchewan's minister of finance, Donna Harpauer, said. "We will continue to manage carefully, invest in priorities for Saskatchewan people, shift from our reliance on volatile resource revenue and help keep our economy strong."

A higher-forecast revenue of $138.1 million has helped shrink the projected 2018/19 fiscal year deficit.

"Revenue is projected to be up due to higher projected resource revenue, higher net income from Government Business Enterprises, federal transfers and other own-source revenue, partially offset by lower taxation revenue," she said.

While the province is expected to bring in a big chunk of money more this year, the update also shows they will spend $121.1 million more than anticipated, a large portion of that extra income.

"Nearly half of the increase is pension expense, reflecting changes in interest rates and actuarial assumptions," Harpauer said. "Increases at mid-year also reflect higher-than-budgeted expense for child and family services, health services, and forest-fire operations."

Harpauer also reiterated that the Sask Party government is on track to return the province to balance by 2019-20.

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