Alberta Government Releases Second Quarter Update
The 2016-17 deficit is forecast to be $10.8 billion, a $78-million decrease since the first quarter, as reported in the Second Quarter Fiscal Update and Economic Statement. The deficit is $449 million higher than estimated at budget, due to the impact of the Wood Buffalo wildfire and other factors.
2016-17 Second quarter forecast ($ millions)
| Full-year forecast | Budget 2016-17 | Q2 forecast | Change from Budget | |
| Income taxes | $15,730 | $15,027 | $(703) | |
| Non-renewable resource revenue | 1,364 | 2,124 | 760 | |
| Other revenue | 24,341 | 25,547 | 1,206 | |
| Total revenue | 41,435 | 42,698 | 1,263 | |
| Operating expense (net of in-year savings) | 44,094 | 44,650 | 556 | |
| Disaster/emergency assistance expense | 246 | 1,276 | 1,030 | |
| Other expense | 6,757 | 6,883 | 126 | |
| Total expense | 51,097 | 52,809 | 1,712 | |
| Risk adjustment | (700) | (700) | – | |
| Deficit | $(10,362) | $(10,811) | $(449) | |
6-Month Actuals ($ millions)
| April 1 to September 30 | Budget | Actuals | Change from Budget |
| Revenue | $20,506 | $22,109 | $1,603 |
| Expense | 25,939 | 26,987 | 1,048 |
| Deficit | $(5,433) | $(4,878) | $555 |