PROCESSWEST Magazine Online

Alberta budget deficit lower than anticipated

February 28, 2019   Don Horne




Alberta is on track for a $6.9-billion budget deficit amid speculation voters will go to the polls this spring before a new budget is introduced.

The budget had originally forecast a deficit of $8.8 billion, but Finance Minister Joe Ceci told Canadian Press a lower dollar and higher than expected bitumen royalties have helped reduce the red ink.

Ceci released the numbers as part of a third-quarter update for the current fiscal year.

Total revenue this year is forecast at $49.6 billion and total expenses at $56.6 billion.

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Ceci has not confirmed whether his department will present a budget before the spring election call.

However the update contained long-term projections for deficit reduction, which are normally found in budgets, along with charts detailing what the NDP government has been doing to combat the downturn in oil prices.

(Canadian Press)


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