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Alberta Budget Forecasts Deficits Amidst Low Oil Prices

3/2/2026

Summary

Story summary

Alberta's budget, released by Premier Danielle Smith (United Conservative Party), projects deficits over the next four years due to low oil prices.
It forecasts oil prices at $60.50 per barrel in 2026-27 and $67.50 in 2028-29.
Private forecasters expect lower prices and raise concerns about the government's optimistic projections.
Economists urge diversification of Alberta's economy to reduce reliance on oil revenues, warning continued dependence could widen deficits.

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Story summary

Alberta's budget, released by Premier Danielle Smith (United Conservative Party), projects deficits over the next four years due to low oil prices.
It forecasts oil prices at $60.50 per barrel in 2026-27 and $67.50 in 2028-29.
Private forecasters expect lower prices and raise concerns about the government's optimistic projections.
Economists urge diversification of Alberta's economy to reduce reliance on oil revenues, warning continued dependence could widen deficits.