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Alberta Saw First Fiscal Surplus In Seven Years

CANADA
  • Alberta recorded its first fiscal surplus in seven years at C$3.9B (year to Mar 31), having last forecast a deficit of $3.2B on Feb 24 as Russia invaded Ukraine.
  • WTI averaged $77/bbl compared to the $46/bbl budgeted, pushing non-renewable resource revenue C$13.3B more than budgeted at C16.2B.
  • It forecasts a surplus of C$0.5B for the current FY22-23.

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