Alberta Projects $6.5B Deficit as Natural Resource Revenue Slumps in Q1 Update

HILL: Alberta’s fiscal update — and $6.5B deficit — underscores need for spending reductions

According to the recent fiscal update, the Alberta provincial government will run a $6.5-billion budget deficit this fiscal year — up from the $5.2-billion budget deficit projected in the February budget. This may come as a surprise to many on the heels of a $8.3-billion surplus in 2024-25, but it’s all part of Alberta’s ongoing resource revenue rollercoaster. And it’s time to get off the track.

Citing oil prices and US trade woes, Alberta says budget deficit rising to $6.5B

The bad news for Alberta's oil-reliant budget is set to get worse.

Alberta projects $6.5B deficit as natural resource revenue slumps in Q1 update

Alberta is forecasting a $6.5-billion deficit for 2025-26, as falling oil prices and global uncertainty weigh heavily on the province’s finances.

Alberta deficit could rise to $6.5-billion as oil prices, tariff woes hurt economy

Figure represents massive swing after province posted $8.3-billion surplus last year

Alberta deficit projected to hit 6.5 billion – up 1.3 billion after first quarter

Q1 update: Steering through the storm Despite global economic challenges, Alberta remains resilient, prepared to make tough yet prudent choices to support families. Like other provinces across Canada, Alberta is facing growing financial challenges as global economic uncertainty affects Q1 projections. The first quarter update projects the 2025-26 deficit will reach $6.5 billion, up $1.3 billion from Budget 2025’s forecast. The most significant …

Alberta projecting larger deficit for the year — $6.5B — due in part to lower oil prices

Sluggish new numbers for Alberta’s revenues show the provincial deficit is expected to grow $1.3 billion more than was forecast in the budget.