Annual Reports and Public Accounts
2023/2024
The province's summary financial position, as of March 31, 2024, is a deficit of $1,971-million, a decrease of $2,344-million from the previous year's restated surplus of $373-million and a decrease of $1,608-million from the 2023/24 budget deficit of $363-million.
As of the 2023/24 fiscal year-end, the Annual Report and Public Accounts shows the following summary of the government's financial position:
The Government of Manitoba balances almost $22-billion of revenues, including own-source revenues and federal transfers, with expenditures that flow to departments and other reporting entities.
As illustrated below, provincial revenues flow from 12 different sources to departments, their agencies and entities funded by government. This year, expenditures exceed revenue by over $2-billion. Health care accounts for approximately 38 per cent (or $9.0-billion) of the total budget.
The provincial net debt, which is a measure of total liabilities less financial assets, is $32.3-billion in 2023-24. The annual debt servicing costs are $2.2-billion.
