By Canadian Press

Province to give fiscal update on Thursday

Aug 26, 2020 | 12:20 PM

EDMONTON – Alberta Premier Jason Kenney is painting a dark picture ahead of this week’s financial update.

The Alberta legislature is to convene on Thursday for the United Conservative government’s release of first-quarter numbers for the 2020-21 fiscal year.

Kenney said in Edmonton today that it will be the biggest deficit in the history of Alberta “by a country mile.”

He says it will be well above $20 billion because of the total collapse of revenues resulting from the COVID-19 pandemic and a crash in oil prices.

Kenney says revenue is more than $10 billion lower than expected.

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He says the province’s debt will continue to rise and at some point there will be a financial reckoning in the province.

This report by The Canadian Press was first published August 25, 2020.

The Canadian Press