Alberta Finance Minister Toews to deliver update on first 3 months of fiscal year

Alberta’s finance minister will deliver an update Tuesday on how the province has fared through the first three months of the current fiscal year.

Travis Toews introduced this year’s budget in February, predicting an $18-billion deficit and taxpayer-supported debt rising to $98 billion.

The budget also predicted an economic rebound given that more COVID-19 vaccine was available and more businesses would be able to open up again.

Toews predicted Alberta’s economy would reach pre-COVID levels by 2022, but that forecast now must deal with a sharp rise in COVID-19 cases fuelled by the far more contagious Delta variant.

Alberta is seeing just under a thousand new COVID-19 cases a day and hospitalizations are also on the rise.

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The last fiscal year, which ended in March, finished with a $17-billion deficit on $60 billion in spending.

© 2021 The Canadian Press

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