Loading articles...

Province reports operating surplus, borrowing for infrastructure

The province’s budget update is in and although it expects a surplus in day-to-day spending the government still borrowed money to pay for one time projects like roads and schools.

The third quarter update for 2013-14 shows a operational spending surplus of $1.4-billion by the end of the year.

However, the province has borrowed $2.7-billion to pay for infrastructure projects.

Finance Minister Doug Horner says stronger oil and gas revenues along with the lower Canadian dollar have helped the bottom line when it comes to operational spending.

He’ll be delivering the new Alberta budget next week and says he plans to hold spending given the ups and downs of oil and gas revenues.

CLICK HERE for the province’s website with a powerpoint and Finance Minister Doug Horner’s announcement.