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Alberta poised to post $1B deficit
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| Contributor | Monsieur |
| Last Edited | Monsieur Feb 22, 2009 09:01am |
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| Category | News |
| News Date | Thursday, February 19, 2009 03:00:00 PM UTC0:0 |
| Description | EDMONTON - After racking up fat surpluses for 15 straight years, the Alberta government is poised to announce its first budget deficit since 1993, one year after former premier Ralph Klein began his 14-year reign.
In an exclusive interview yesterday with the Edmonton Journal, Alberta Finance Minister Iris Evans said the province is on track to report a 2008-09 budget deficit of more than $1-billion.
"We're projecting that we will complete 2008-09 with just over a billion dollars of deficit. Those numbers obviously will be refined" as the current fiscal year draws to a close on March 31, she said.
Ms. Evans's latest estimate represents a sharp drop-off since November, when she projected a $2-billion surplus in the province's second-quarter fiscal update, and it is a dramatic about-face since last summer, when record-high oil prices led the province to project a surplus of $8.5-billion. |
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