Jason Kenney has been warning that the deficit in the first quarter of the fiscal year will be “well north of $20 billion” and won’t be improving any time soon.
Thursday’s fiscal update will unveil ‘biggest deficit in the history of Alberta’: Kenney He says the province has suffered a “double whammy” – a total collapse of energy prices that has “clobbered” the oil and gas industry and a global recession caused by the COVID-19 pandemic.“Our debt will go up very significantly and in the future we will, as a province, have to deal with that,” Kenney said earlier this week.“There is a great fiscal reckoning on the horizon.