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Canadian province Alberta ups 2015/16 deficit forecast to C$6.3 bln

Published 2016-02-24, 03:30 p/m
Canadian province Alberta ups 2015/16 deficit forecast to C$6.3 bln

CALGARY, Alberta, Feb 24 (Reuters) - The Canadian
oil-producing province of Alberta will post a C$6.3 billion
deficit this fiscal year, 3 percent higher than originally
forecast, the government said on Wednesday, as the global crude
slump continues to batter the once-booming economy.
In a third-quarter update for the 2015/16 fiscal year,
Finance Minister Joe Ceci said revenues would be C$43.1 billion,
C$660 million lower than estimated in the October budget, as the
oil price collapse weighed on personal income tax and resource
revenues.

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