Alberta heading for more than $7 billion deficit says report

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Alberta could be heading for a much larger deficit in its budget than previously predicted according to a TD Economics report. The estimated shortfall of $7 billion was based on the price of West Texas crude averaging $65 a barrel though this year; it’s currently just above $43. TD expects the average to be around $52 a barrel this year and $68 in 2016 and on that metric it says there will be another $1 billion added to the deficit. 

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