The province is experiencing a boom in its oil and gas industry and the budget is expected to reflect the resulting provincial revenue.
’s first budget to sport a huge surplus and an opportunity for her to cement the direction of her government’s plans.
Thanks to a booming oil and gas industry in the province, Alberta coffers will be spilling over with cash. A fiscal update provided by Finance Minister Travis Toews in November pegged the surplus at $12.3 billion for the fiscal year. Good financial times in Alberta are often tied to one metric: the price of a barrel of oil. West Texas Intermediate oil — the benchmark price used by Alberta to estimate finances — was expected to be $91.50 per barrel in the last fiscal update.The fiscal snapshot also put nonrenewal resource revenue at a whopping $28.1 billion — $12 billion more than in 2021-22.
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