Oil-Rich Alberta Forecasts Unexpected Budget Surplus ...Middle East

Alberta expects to have booked a budget surplus of about US$4.2 billion (C$5.8 billion) for the fiscal year 2024-2025 that ended in March, as Nate Horner, the finance minister of Canada’s oil-producing province, prepares to deliver the year-end fiscal update later on Friday.  The unexpectedly large surplus for 2024-2025 was due to higher resource royalties, RBC said earlier this year.    However, Alberta expects a large deficit of about US$3.8 billion (C$5.2 billion) for the current fiscal year 2025-2026 which began in…

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