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

Shooting, Wild Chase Through Surrey Ends With Crash, Three Arrests In Delta

Mounties say a gun was seized from the car, the trio is known to them and charges are expected, but an investigation continues

Shooting, Wild Chase Through Surrey Ends With Crash, Three Arrests In Delta

Advisers Urge Justin Trudeau To Be Innovative In Era Of Dramatic Change

OTTAWA — Federal advisers have told Justin Trudeau he must adopt more innovative approaches to successfully govern in the modern era.

Advisers Urge Justin Trudeau To Be Innovative In Era Of Dramatic Change

The Tie That Binds: Mother Of Missing Manitoba Man Starts Awareness Campaign

Colten Pratt, who is 26, has been missing since November 2014 and Lydia Daniels has spent the last year trying to find him.

The Tie That Binds: Mother Of Missing Manitoba Man Starts Awareness Campaign

Ice Jams Prompt Flooding Concerns For Homeowners Near Smithers, B.C.

Regional District of Bulkley-Nechako chairman Bill Miller says ice has backed up along the Bulkley River, causing water to rise and seep into basements and crawl spaces of some nearby homes.

Ice Jams Prompt Flooding Concerns For Homeowners Near Smithers, B.C.

B.C. Seniors Urged To Learn If They Qualify For Medical Services Plan Subsidy

Isobel Mackenzie says seniors could be eligible for full or partial payments but most are unaware of the available help.

B.C. Seniors Urged To Learn If They Qualify For Medical Services Plan Subsidy

Slumping Loonie Could Add $3.5 Billion To Cost Of Windsor-Detroit Bridge, Trudeau Told

OTTAWA — The federal Liberal government will need to find $3.5 billion more to pay for a new bridge at the bustling border crossing between Canada and the United States.