Alberta’s finance minister to release first quarter budget update

Albertans will get a better picture of the province’s finances Tuesday when Finance Minister Joe Ceci provides the first quarter fiscal update.

Expect to see a lot of red ink.

The last update provided back in February pegged Alberta’s deficit at more than $10-billion for the 2016/2017 fiscal year.

It was blamed on low oil prices with Ceci calling the financial situation a “once in a generation challenge.”

At that time, he projected no return to balanced budgets until at least 2020.

Take that bleak news, and add in the Fort McMurray wildfires in May that shut down major oilsands projects for a couple weeks, and the ledgers could end up looking even worse.

Ceci will release the details at 1:30 p.m., and 660 NEWS will have full coverage.

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