The Manitoba government has released its 2025-26 audited public accounts, which show the province is on track to balance the budget next year after cutting the deficit in half since the third quarter update.
“We are keeping our promise to balance the budget over our term in government,” said Premier Wab Kinew. “We are honouring that commitment by cutting the deficit in half since our last update and showing a clear path to balance next year. With the largest investment in the rainy day fund in decades, we’re creating the stability our province needs. We are proving that it is possible to make record investments in health care and education while being responsible with the books – and as a result Manitoba has the best fiscal story in the country.”
This progress is in line with the Budget 2026 projection and has enabled the Manitoba government to make the largest deposit into the fiscal stabilization fund in more than 20 years, the premier noted.
The 2025-26 Public Accounts show a deficit of $832 million, approximately half the $1.666-billion deficit forecast in the third quarter update and in line with the $794-million estimate in Budget 2026. Since the third quarter update, Manitoba’s net-debt-to-gross domestic product ratio improved by 1.5 per cent to 36.4 per cent.
“Our commitment to growing the economy while lowering costs for families has yielded strong results,” said Finance Minister Adrien Sala. “Under the previous government, the rainy day fund fell below legislated targets and it was never replenished. The deposit we are making today shows our record of responsible fiscal management and our commitment to delivering on our promise to balance next year.”
Despite significant external pressures, including tariffs, wildfires and drought, Manitoba reported the lowest deficit among Canadian provinces, supported by continued economic growth, strong job creation and wage growth that outpaced inflation.
The $600-million contribution to the fiscal stabilization fund, commonly known as the rainy day fund, is the first deposit in five years and the largest in more than 20 years. The contribution more than doubles the balance of the fund and reestablishes compliance with legislated reserve targets.
The 2025-26 Public Accounts received a clean audit opinion from the auditor general reaffirming the integrity of the Manitoba government’s financial reporting and reflecting its commitment to transparency, accountability and responsible fiscal management.
The Annual Report and Public Accounts for the year ended March 31, 2026, is available at gov.mb.ca.
