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Manitoba reports surprising surplus and strong 1997 98 economy
Manitoba finance minister Eric Stefanson announced a $78.4 million surplus for the year ending March 31 1998. Revenue reached $5.842 billion aided by $172 million in federal cost shared recoveries from the Red River flood and $108 million gain in provincial taxes. He noted 1997 was a strong year with retail sales up 8.4 percent and employment up 2.4 percent, while Ottawa’s $240 million cut in cost sharing forced shifts in funds. Interest costs totaled $520.1 million, reflecting a debt of $6.763 billion at year end.
MENTIONED IN THIS ARTICLE
Manitoba
Eric Stefanson
Stefanson
Red River
Ottawa
Pointblank
Filmon
Manitoba Medical Association
Actors’ Union
Teachers and Nurses Unions