The Government of Alberta said they are on track to balance the budget by 2023 after their third quarter financial update came out yesterday (February 28).

Finance Minister Joe Ceci gave the numbers, which showed 90,000 new full-time jobs were added, and the deficit is slowly shrinking.

When the 2017 Budget came out last spring, the deficit was projected to reach $10.49 billion, but now that number sits at just over nine billion.

Ceci said while the province is not out of the woods yet, he's pleased with the financial results right now.

"I think this is great news especially for the 90,000 folks who now have full-time jobs and are now going to work every day. I'm happy that the GDP in this province has led the nation in 2017 at 4.5 percent and I'm happy the deficit is down."

Despite the optimism from the Finance Minister, the United Conservatives said the NDP are still out of touch with everyday Albertans. UCP leader Jason Kenney said in a release that the billions of dollars in spending and unnecessary taxes are hurting more families and that household income is shrinking.

Ceci has refuted the claims of the opposition and said that the Province is better handling their money, especially with the cost-straining measures they've put in place.

"These measures include cutting salaries and eliminating bonuses and perks from the highest paid executives on our agency boards and commissions. Continuing the salary freeze of non-union public sector staff and management. Consolidating and transforming government corporate services such as communications and IT."

More details on the future financial plans will be unveiled when the next provincial budget comes out on March 22nd.

 

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