Sunday, May 26, 2024
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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