Alberta spending more but saving more according to third-quarter fiscal update
EDMONTON — New numbers show Alberta’s economy continues to dig itself out of the deep hole caused by crashing oil prices as Premier Rachel Notley’s government both spends and saves more.
Finance Minister Joe Ceci says the province is on track for a $9.1-billion deficit when the budget year ends March 31. That’s $1.4 billion lower than the deficit expected when Ceci tabled this year’s budget last spring.
Ceci notes forecasts also point to an economic rebound as production goes up and unemployment falls.
“Nearly 90,000 full-time jobs were created over the last year and Alberta’s GDP growth led the country at 4.5 per cent in 2017,” Ceci said in a statement Wednesday after releasing the third-quarter update to the 2017-18 budget.