Alberta Budgets for Deficit This Year

Alberta’s budget for 2025 projects a deficit of some C$5.2 billion, or $3.6 billion, with spending set at C$79 billion, equal to around $55 billion. The projected 2025 budget stands in stark contrast with the previous fiscal year’s one, which featured a surplus of C$6 billion, or $4.15 billion, Bloomberg reported. The 2025 deficit comes mostly from oil prices, the effect of Trump’s tariffs on the Canadian province’s finances, and a personal and corporate income tax cut amounting to C$1.2 billion, which Premier Danielle Smith…