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

Culling Of Fawns In Cranbrook, B.C., Infuriates Deer Protection Society

The B.C. Deer Protection Society is furious about what it says is a cull of deer, conducted without any notification, in southeastern B.C., near Cranbrook.

Culling Of Fawns In Cranbrook, B.C., Infuriates Deer Protection Society

Holiday Sales Rose 3 Per Cent Below 3.7 Per Cent Forecast

Holiday shoppers flocked online during the critical holiday shopping season, but overall sales in November and December were disappointing.

Holiday Sales Rose 3 Per Cent Below 3.7 Per Cent Forecast

Man Steals $1,528 Worth Of Chewing Gum; Police Say They've Exhausted All Leads

York Regional Police say a man stole more than $1,500 worth of gum from a pharmacy in Markham, Ont., and they're hoping the public can help them identify the culprit.

Man Steals $1,528 Worth Of Chewing Gum; Police Say They've Exhausted All Leads

Scientists Agree Fracking Can Cause Earthquakes, But How Is Still A Mystery

A record-breaking earthquake this week in the middle of an Alberta oilfield heavily subject to hydraulic fracking is one of a growing number of such events across the continent, scientists say.

Scientists Agree Fracking Can Cause Earthquakes, But How Is Still A Mystery

OPP Officer Dies While On Duty In Orillia, Ont.; Foul Play Not Suspected

ORILLIA, Ont. — Ontario Provincial Police say a member of the force has died while on duty.

OPP Officer Dies While On Duty In Orillia, Ont.; Foul Play Not Suspected

A Rarity In A U.S. Presidential Debate: Candidate Defends His Canadian Birth

Thursday night's debate was a shift from the relative civility between the billionaire and the senator in the days leading up to the Feb. 1 Iowa caucuses.