Posted on 19/11/08
Alberta trims $6.5-billion from surplus
CALGARY -- Teflon-coated Alberta, long protected from the global economic downturn by its oil and gas wealth, is now feeling the full force of the world's financial panic. Alberta will have a budget surplus of only $2-billion for the financial year 2008-2009, Finance Minister Iris Evans said yesterday. While that's still substantial - especially as other less fortunate economies tumble into recession - it's $6.5-billion less than the province had forecast only three months earlier.
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