Alberta provides update on whether state is still on track for $13 billion surplus
Alberta will get an update on whether the province is on track to post a $13 billion budget surplus this year.
Treasurer Travis Toews will release results for the second quarter of fiscal year 2022-23 on Thursday.
Toews’ budget in February predicted a surplus of just $511 million, but the first quarter update on the strength of oil prices in the $100s/barrel showed that Forecasts soared to $13.2 billion.
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Alberta’s 2022 budget projects an optimistic economic future using ‘credible but cautious’ energy forecasts
The West Texas Intermediate benchmark price has since softened but remains strong at around US$80 per barrel.
Spending should take into account the massive injection of anti-inflation support announced by Prime Minister Daniel Smith this week.
Smith pledged $2.4 billion in a range of aid, primarily aimed at middle- to low-income families, the elderly, and the vulnerable.
© 2022 The Canadian Press
Alberta provides update on whether state is still on track for $13 billion surplus
Source link Alberta provides update on whether state is still on track for $13 billion surplus
