Alberta’s budget deficit is shrinking, but its economic growth is slowing amid oil woes

CALGARY — Alberta’s budget deficit is shrinking though the province’s economic growth is also slowing, as the NDP government prepares for a fractious election in the spring.

Those numbers may be optimistic, as the Conference Board of Canada released a report Wednesday projecting Alberta’s economy to grow at the slowest rate of any province this year. The think-tank expects real GDP to increase just 1.3 per cent this year “due to cuts in oil production and the declines in energy investment.” It also predicts unemployment is expected to rise by 1.1 per cent this year.

Ceci acknowledged the challenges to the province’s economy but said the government’s attempts to support new export pipeline projects, curtail oil production to lift domestic crude prices and buy rail cars would help lead to higher economic growth next year.

no money for a budget guys.

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