Alberta Releasing Updated Budget Numbers With Oil Cash Well Below Projections

The Canadian Press, 24 Feb, 2016 11:09 AM

EDMONTON — Albertans may be in for a bit of more bad news today when the provincial government releases its third-quarter budget update.

The province is on track to rack up a $6.1-billion deficit this year due to the collapse in oil prices.

However, in recent weeks Finance Minister Joe Ceci has declined to confirm the province will still be able to meet that deficit figure.

The budget is based on benchmark oil averaging US$50 a barrel this fiscal year.

But oil has been well below that figure for months and currently sits just over US$30 a barrel.

Next year's budget is coming in the spring legislature session, but Ceci has not announced a date.

Prev Next

MORE National ARTICLES

Canada's National Capital Facing Biggest Urban Overhaul In A Half Century

Canadian cities are no strangers to boneheaded urban planning decisions — the Gardiner Expressway blocking access to Toronto's waterfront, Montreal's crumbling Turcot interchange, space-sucking viaducts in Vancouver.

Canada's National Capital Facing Biggest Urban Overhaul In A Half Century

Judge Rules Murder Trial In Case Of Missing Alberta Couple Will Go Ahead

Lawyers for Travis Vader had argued that the case should be dropped over alleged abuse of process.

Judge Rules Murder Trial In Case Of Missing Alberta Couple Will Go Ahead

Industry Critics Cast Doubt On Telecoms' Claim Low Loonie Connected To Price Hike

Telus, Rogers and Bell recently announced price hikes while pointing an accusatory finger at the low Canadian dollar.

Industry Critics Cast Doubt On Telecoms' Claim Low Loonie Connected To Price Hike

'Never Seen Anything Like It': Doctor Testifies About 4-Year-Old Saskatchewan Girl's Wounds

Caregivers Kevin and Tammy Goforth face charges of second-degree murder of the four-year-old girl and assault causing bodily harm to her two-year-old sister.

'Never Seen Anything Like It': Doctor Testifies About 4-Year-Old Saskatchewan Girl's Wounds

Spaniard's Bay Council Apologizes To Female Firefighter For Sexual Harassment

A news release from Spaniard's Bay in southeastern Newfoundland apologizes to Brenda Seymour, who is also a town councillor.

Spaniard's Bay Council Apologizes To Female Firefighter For Sexual Harassment

Former Conservative Minister Peter MacKay Joins Toronto Law Firm But Won't Rule Out Future Political

He says going back to practising law was always part of his plan and the opportunity to advise on a range of matters, including government and regulatory enforcement, is too good to pass up.