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

Rosemary Barton Named As Permanent Host For CBC's 'power And Politics'

Solomon's departure followed a report that he had been brokering lucrative art deals with people he dealt with through his job.

Rosemary Barton Named As Permanent Host For CBC's 'power And Politics'

Chief Economists At Canada's Big Banks Predict Rocky Year For Economy

TORONTO — Canada is headed for a rocky year as low oil prices continue to drag on economic performance, the chief economists of some of Canada's biggest banks said Tuesday.

Chief Economists At Canada's Big Banks Predict Rocky Year For Economy

Jury Urged To Find Melonie Biddersingh Drowned In Unclear Circumstances

TORONTO — The defence at a trial involving the death of a teenage girl whose body was found stuffed in a burning suitcase is urging jurors to accept forensic evidence that she drowned

Jury Urged To Find Melonie Biddersingh Drowned In Unclear Circumstances

Fiat Chrysler Canada Sales Rose Amid Expectations Of Record Year For Industry

The company sold 293,061 vehicles last year, fuelled by sales of light trucks, a category that includes SUVs, minivans and pickup trucks.

Fiat Chrysler Canada Sales Rose Amid Expectations Of Record Year For Industry

Manitoba Public Schools To See 2.5 Per Cent Increase This Year: Premier

The increase is more or less in line with those of recent years, which have ranged anywhere from two per cent to 5.6 per cent.

Manitoba Public Schools To See 2.5 Per Cent Increase This Year: Premier

More Than 40 Racehorses Die In Ontario Stable Fire

A massive fire that gutted a barn and killed more than 40 racehorses inside has caused one of the most financially and emotionally devastating losses to rock the community, the local fire chief said Tuesday.