Deficit is now expected to reach $6.5 billion, which is $1.3 billion more than budgeted in the spring

Lower-than-forecast oil prices are leaving Alberta’s coffers emptier than planned, the government announced last week as part of its first-quarter fiscal update.

The provincial deficit is now expected to reach $6.5 billion , which is $1.3 billion more than budgeted in the spring.

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Alberta’s bottom line is to take a hit due to sagging resource revenues, offset slightly by improved revenues elsewhere, including corporate income taxes.

“I want to acknowledge that this is a big shift from the $8.3-billion surplus we had at the end of March just five months ago,” Finance Minister Nate Horner said at news conference.

Here’s a look at Alberta’s budget balances in the pas

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