Alberta’s first-quarter fiscal update reveals worsening fiscal picture

Alberta Finance Minister Joe Ceci (pictured above) unveiled the province’s first-quarter fiscal update today. Unfortunately, the province’s budgetary situation looks even worse than it did when the government released its budget in April.The province is projected to run a $10.9 billion deficit in the 2016/17 fiscal year—up $500 million from the initial $10.4 billion deficit projected in the budget. For context, that means this year’s annual deficit will amount to approximately $2,500 per Albertan.Troublingly, neither the budget nor today’s fiscal update presents a plan to balance the budget during the current mandate and, as a result, the province expects to

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