Alberta digging itself out of deep fiscal hole: Ceci

New numbers show Alberta's economy continues to dig itself out of the deep hole caused by crashing oil prices, with Premier Rachel Notley's government saving more -- and spending more. Alberta Finance Minister Joe Ceci speaks about the Government of Alberta's 2016-17 year-end financial results, in Edmonton on Thursday, June 29, 2017. THE CANADIAN PRESS/Jason Franson

New numbers show Alberta’s economy continues to dig itself out of the deep hole caused by crashing oil prices.

The third-quarter budget update also indicates Premier Rachel Notley’s government is saving more and spending more.

Despite the slightly rosy picture, the province’s finances are still deep in the red.

Finance Minister Joe Ceci said the province is on track for a $9.1 billion deficit when the budget year ends March 31.

That is $1.4-billion lower than the deficit Ceci predicted the budget last spring.

Oil revenue is up and Alberta has experienced a better-than-expected return on its investments.

The savings are partially offset by an extra $1-billion in spending on programs for children and people with disabilities, and for income and employment supports.

The debt is going to hit almost $42-billion this year.

Here are some other highlights from the update: