How Alberta ended up with a $8.3-billion surplus
CBC Canada · Older
CBC Canada
Older
Record oil production and a favourable exchange rate left the province in better financial condition than expected. Here's how it could help a gloomier economic forecast for Alberta.
BreakdownGenerated by LeadStory AI
- Alberta recorded an $8.3 billion surplus, exceeding initial government forecasts. 12s
- Higher oil revenues, increased tax intake, and a tobacco settlement drove the surplus. 40s
- Over $700 million from a legal settlement with tobacco companies was added to provincial funds. 1m 44s
- The government has not detailed specific plans for the surplus or settlement money. 1m 54s
- A $5.8 billion deficit is forecast for the current year due to declining oil prices and economic uncertainty. 2m 46s