Fort McMurray wildfire adds $500M to Alberta’s projected deficit
EDMONTON — The devastating Fort McMurray wildfire is expected to torch Alberta’s bottom line by about $500 million this year.
Finance Minister Joe Ceci says he has had to revise the projected deficit upward in his first-quarter fiscal update to almost $11 billion from $10.4 billion.
“I don’t need to tell my fellow Albertans that as a result of the oil-price shock, the economic headwinds facing Alberta remain strong. Albertans see that every day. Many are suffering significant hardship,” Ceci said Tuesday at a news conference where he released the latest numbers.
“This year those headwinds are blowing even harder as a result of the Wood Buffalo wildfire.”