One year ago, the province recorded an $8.3-billion surplus on the strength of higher-than-expected oil prices, strong population growth and a surging economy.

The see-saw effect of lower oil prices and a higher Canadian dollar is denting the bottom line of Alberta’s budget, widening the province’s expected deficit by more than $1 billion this year.

And it’s causing another case of budget whiplash.

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One year ago, the province recorded an $8.3-billion surplus on the strength of higher-than-expected oil prices, strong population growth and a surging economy.

In its first-quarter financial update released Thursday, the province reported a sizable drop in resource revenue that has changed the financial picture, increasing the projected deficit this year by $1.3 billion t

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