Tag Archive: Alberta Facing Nearly $6 Billion Deficit

Alberta Facing Nearly $6 Billion Deficit

Alberta Facing Nearly $6 Billion Deficit Thanks in part to falling oil prices and higher-than-expected costs for disaster assistance, Alberta is looking at a $5.9 billion deficit. President of Treasury Board and Minister of Finance Joe Ceci announced on Monday that between Alberta’s forecasted $44.3 billion revenue and $50.2 billion in expected expenses, the province will likely be heading into some financial turmoil. “There is no doubt that families and businesses are struggling due to the dramatic drop in oil prices,” said Ceci. “The last month has been volatile for the energy sector.” Both Canada’s slumping loonie and Alberta’s hike… View Article