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

Military Investigating Alleged Security Breach At Intelligence Centre

HALIFAX — Military police in Halifax are investigating an alleged security breach involving storage of secret files inside one of the Royal Canadian Navy's most sensitive security operations.

Military Investigating Alleged Security Breach At Intelligence Centre

B.C. Conservative Leader Dan Brooks Resigns; Party To Pick New Leader

VANCOUVER — The head of British Columbia Conservatives says he's resigning as leader due to family and business responsibilities.

B.C. Conservative Leader Dan Brooks Resigns; Party To Pick New Leader

Talks Set For Friday Aimed At Avoiding Possible Looming Corrections Strike

TORONTO — The union for correctional and probation officers has scheduled a last-ditch attempt at reaching a contract with the Ontario government and avoiding a strike.

Talks Set For Friday Aimed At Avoiding Possible Looming Corrections Strike

Garbage Collection Business Progressive Waste Solutions Launches Strategic Review

A major North American garbage collection business, Progressive Waste Solutions, has embarked on a review of its strategic options but is providing few details about the potential impact of the process.