Alberta budget on track for operational surplus, capital spending deficit
Posted Feb 26, 2014 10:21 am.
This article is more than 5 years old.
EDMONTON – Alberta Finance Minister Doug Horner expects the province to run a $1.4-billion surplus on day-to-day spending this year, but says the government will remain in the hole when paying for roads and schools.
The third-quarter budget update for 2013-14 says stronger oil and gas revenues, along with a lower Canadian dollar, have boosted the bottom line on operational spending.
Horner says the province has borrowed $2.7 billion to pay for infrastructure.
The rainy day savings contingency account is projected to be at $4.6 billion.
Horner is to deliver the new provincial budget March 6.
He says he plans to hold spending in place given the volatility of oil and gas revenues.
