The outlook for Alberta's budget in its second-quarter update remains largely unchanged from the previously grim forecast provided in August.

Finance Minister Nate Horner estimates the government will finish the fiscal year with a $6.4 billion deficit, which grew by $1.2 billion from the original estimate provided in the 2025-26 budget, delivered in February.

It’s a similar picture to the one outlined at the end of the summer. The update cited softening oil prices for the growing deficit and said there has been a 30 per cent decline in natural resource revenue from last year.

Oil prices are expected to remain low, the update says.

It also cites population growth and high unemployment as pressure points on the economic outlook.

Finance minister: Alberta faces more deficits, local polit

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