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

Indigenous People Allege Discrimination, Racism In Winnipeg Taxi Industry

Jackie Traverse says she and other indigenous women are treated like "garbage" — subject to sexual harassment and even assault

Indigenous People Allege Discrimination, Racism In Winnipeg Taxi Industry

B.C. Union Joins First Nations Vowing To Use Law To Fight Pipelines

VANCOUVER — A union representing 65,000 workers in British Columbia has signed a declaration vowing to oppose pipelines from crossing the territories of more than 130 First Nations.

B.C. Union Joins First Nations Vowing To Use Law To Fight Pipelines

Shell Postpones LNG Canada Final Investment Decision As Profits Plunge

VANCOUVER — Royal Dutch Shell is postponing a final investment decision on its proposed liquefied natural gas megaproject in British Columbia as it grapples with plummeting earnings due to low energy prices.

Shell Postpones LNG Canada Final Investment Decision As Profits Plunge

Plea Deal Expected Feb. 19 In Case Of Canadian Diplomat's Son Charged With Murder

After conferring with the judge, the prosecution and the defence said Marc Wabafiyebazu should now be ready to plead Feb. 19.

Plea Deal Expected Feb. 19 In Case Of Canadian Diplomat's Son Charged With Murder

Two Of 14 Confirmed Cases Of E. Coli Linked To Calgary Pork Sausage

Alberta Health Services says there have been 14 confirmed cases of E. coli in the Calgary zone, but they have not all been traced to a single source.

Two Of 14 Confirmed Cases Of E. Coli Linked To Calgary Pork Sausage

Nova Scotia Government Re-assessing Changes To Seniors Drug Plan: Premier

Nova Scotia Premier Stephen McNeil says his government is re-assessing controversial changes to a seniors drug plan after hearing concerns from seniors and advocacy groups.