Alberta government ends the year with deficit $2B smaller than predicted

By The Canadian Press
June 28, 2019 - 4:12pm

EDMONTON - Newly released figures show the Alberta government ended the last fiscal year with a deficit more than $2 billion smaller than originally predicted in the budget.

Higher oil prices and more than $800 million in additional tax revenue are being credited for the smaller red number.

Resource revenue was up $1.6 billion from what was predicted in the 2018-19 budget the last brought in by Rachel Notley's NDP before a provincial election loss earlier this year to Jason Kenney and the United Conservatives.

Expenses were up $150 million over the budget prediction.

Overall, the Alberta government ended up spending $6.7 billion more than it made in 2018-19.

UCP Finance Minister Travis Toews focused on the province's debt in his statement that accompanied the release of the numbers, calling it unsustainable.

 

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