_QR77 Newsroom
11/26/2009
Alberta's projected deficit now sits at $4.3 billion, down from the record $6.9 billion predicted in the first quarter.
The lower than expected deficit is thanks to higher oil prices, investment and corporate tax revenues.
In addition, the province achieved $430 million in savings by implementing a hiring freeze.
Despite the rosier numbers, the Stelmach government is still going ahead with trying to find another $2 billion in cuts or savings in order to get the province back in the black in three years.
Finance Minister Iris Evans unveiled the second quarter fiscal update in Calgary Thursday at McDougall Centre.
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