Annual Reports and Public Accounts
2022/2023
Manitoba's economic performance in 2022/23 was stronger than expected, and the province's summary financial position, as at March 31, 2023, is a surplus of $270 million. This is an improvement of $1,020 million over the previous year's restated deficit of $750 million and an improvement of $818 million over the 2022/23 budget deficit of $548 million.
As of the 2022/23 fiscal year-end, the Annual Report and Public Accounts shows the following summary of the government's financial position.
The Government of Manitoba balances over $22 billion of revenues, including own-source revenues and federal transfers, with expenditures that flow to departments and other reporting entities. This year, revenue exceeds expenditures by $270 million. Health care accounts for approximately 37 per cent (or $8 billion) of the total budget. Health, education, and families constitute nearly 71 per cent of the budget. The provincial net debt, which is a measure of total liabilities less financial assets, is $30.3 billion in 2022/23. The annual debt servicing costs are almost $2.0 billion.
