Albertans will get an update on whether the province is still on track to post a $13 billion surplus in this year’s budget.
Finance Minister Travis Toews will announce the results of the second quarter of the 2022-23 fiscal year on Thursday.
The budget presented by Toews in February projected a surplus of just $511 million, but that projection rose to $13.2 billion in the first quarter update on the strength of oil prices in the US$100-per-barrel range .
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Alberta Budget 2022 predicts rosy economic future using ‘credible but cautious’ energy projections
The benchmark price for West Texas Intermediate has since softened, but remains strong at around US$80 a barrel.
Spending will now have to take into account a massive injection of inflation-fighting aid announced by Premier Danielle Smith this week.
Smith pledged $2.4 billion on a range of supports aimed primarily at middle- to lower-income families, seniors and the vulnerable.
© 2022 The Canadian Press
