The provincial deficit has hit $6.4 billion, which is $324 million higher than what was expected.
Finance Minister Joe Ceci says this is due in part to low oil prices and a shrinking economy.
But, Ceci says they have plans to fix the oil slump.
“We are pushing, of course, to get pipelines to tidewater,” says Ceci. “That will help us get world prices for something that, right now, we only have one buyer for which is the United States. And they are our biggest competitor.”
Alberta’s economy shrunk by 3.7% last year.
The Fort McMurray wildfire did not affect this budget, and the government will wait until their next update to estimate how much that will affect their bottom line.
Ceci also says the NDP chose to maintain essential services, like health care and education, rather than cutting staff and spending.
More to come… (km)