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

Panel Warning Of Marijuana's Effects On Young People Kicks Off In Halifax

HALIFAX — The Canadian Centre on Substance Abuse kicked off a four-city tour today in Halifax to dispel myths about marijuana and warn about the effects of the drug on young people.

Panel Warning Of Marijuana's Effects On Young People Kicks Off In Halifax

Vancouver Police Seeking 3 Men Seen Taking Pictures Inside Pacific Centre Mall

Vancouver Police say they are investigating a "suspicious incident" after three men were seen taking photographs inside a downtown mall on Tuesday evening.

Vancouver Police Seeking 3 Men Seen Taking Pictures Inside Pacific Centre Mall

Surrey Police Search For 'Robber' Wearing Flowing Faux Tresses Topped By Pink Toque

Mounties in Surrey, B.C., want to talk to him about it — and the financial institution he's accused of robbing

Surrey Police Search For 'Robber' Wearing Flowing Faux Tresses Topped By Pink Toque

Surrey’s New Police Officer Arrests Wanted Langley Auto Thief

Charged in this incident is 52 year old Langley resident, Dean WILLIAMS. WILLIAMS, known to police, has been charged with Theft over $5000 and Possession of stolen property over $5000.

Surrey’s New Police Officer Arrests Wanted Langley Auto Thief

Cartoon Of Dead Syrian Toddler In Controversial French Newspaper Charlie Hebdo Draws Outrage

Tima Kurdi took to Twitter to criticize the controversial French satirical newspaper Charlie Hebdo for its depiction of two-year-old Alan Kurdi.

Cartoon Of Dead Syrian Toddler In Controversial French Newspaper Charlie Hebdo Draws Outrage

PM Justin Trudeau 'Optimistic' About Ability To Diversify Economy

Trudeau made his comments at a ceremony in Kitchener, Ont., where Google Canada opened a 17,000-square-metre facility that will house the company's national development team.