By Canadian Press

With election looming, Alberta announces budget on track for $6.9B deficit

Feb 27, 2019 | 12:43 PM

EDMONTON — Alberta is on track for a $6.9-billion budget deficit amid speculation voters will go to the polls this spring before a new budget is introduced.

The budget had originally forecast a deficit of $8.8 billion, but Finance Minister Joe Ceci says a lower dollar and higher than expected bitumen royalties have helped reduce the red ink.

Ceci released the numbers as part of a third-quarter update for the current fiscal year.

Total revenue this year is forecast at $49.6 billion and total expenses at $56.6 billion.

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Ceci has not confirmed whether his department will present a budget before the spring election call.

However the update contained long-term projections for deficit reduction, which are normally found in budgets, along with charts detailing what the NDP government has been doing to combat the downturn in oil prices.

The Canadian Press