February 27, 2020 / 10:34 PM / a month ago

Canadian province of Alberta sees lower budget deficit in 2020-21

EDMONTON, Alberta, Feb 27 (Reuters) - Alberta, Canada’s main oil-producing province, on Thursday said its budget deficit will decrease in the 2020-21 fiscal year, helped by an expected pick-up in economic growth and recovery in the price of oil from current depressed levels.

Alberta’s deficit is forecast to be C$6.8 billion in the 2020-21 fiscal year, including a C$0.8 billion cushion for emergencies. For the current fiscal year, which ends on March 31, the deficit is estimated at C$7.5 billion, which is C$1.2 billion lower than was seen in October. (Reporting by Fergal Smith Editing by Chris Reese)

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