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    Home » Alberta to give update on whether province still on track for $13B surplus
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    Alberta to give update on whether province still on track for $13B surplus

    yyctimesBy yyctimesNovember 24, 2022No Comments1 Min Read
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    By Staff

    The Canadian Press

    Posted 24 November 2022 08:47

    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 .

    Read more:

    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.

    Story continues below advertisement

    Smith pledged $2.4 billion on a range of supports aimed primarily at middle- to lower-income families, seniors and the vulnerable.


    Click to play video: 'Albertans react to inflation support announced by provincial government'

    1:52
    Albertans react to inflation support announced by provincial government



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