Reported about 11 hours ago
Alberta, Canada's leading oil province, is anticipating its first budget deficit in four years, projecting a shortfall of C$5.2 billion in the coming fiscal year. This decline is attributed to a forecasted C$4 billion decrease in bitumen royalties and reduced income tax revenue, all influenced by the looming US-Canada trade war and potential tariffs that could lower oil prices and volumes. As the province braces for economic changes, it expects GDP growth to slow and plans to implement a new lower personal income tax rate to alleviate some financial pressure on residents.
Source: YAHOO