Even will the price of oil falling more and more, Saskatchewan will stick around as a “have” province, according to provincial finance minister.
“We will continue to be a have province, and we foresee that continuing into the future as well,” said Kevin Doherty.
The faltering price of oil has hit Alberta’s economy hard, and Saskatchewan’s to a lesser extent. Though Doherty said it won’t take away too much from the province, it could affect transfer payments.
“We’re anticipating a bit of an uptick because of the fact that our population has grown since last year, but not dramatically.”
It could take a while though, Doherty said there is lag time before the impact of depressed oil prices is felt on equalization.
Doherty will discuss this issue and more with his provincial and federal counterparts at a meeting in Ottawa on Sunday and Monday.