Alberta Premier warns of "significant" deficits as oil prices slide, rules out major tax hikes
Latest news on WhatsApp أجدد الأخبار على واتسابAlberta Premier Danielle Smith says the province is facing "significant" budget deficits as it grapples with lower oil prices, ahead of a provincial budget expected later this month.
Smith said her government is ruling out broad tax hikes and "deep" service cuts, adding that avoiding those options means Alberta will likely run multiple deficits in the coming years.
She said the government will continue to prioritize spending on health care, education and infrastructure, while noting the province cannot fund every priority at once.
As of Alberta’s fall forecast, the province was projecting a $6.4 billion deficit for the current fiscal year based on an average benchmark oil price of US$61.50 per barrel. Previous budget documents also projected deficits of more than $2 billion in each of the next two years, though Smith did not say whether those numbers are now expected to rise.
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Tahani Elghazaly5258 Posts
