Lack Of Market Access For Alberta Bitumen Contributes To Ballooning Deficit: Horner

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Alamy | Alamy

EDMONTON -- With resource revenue flowing in at $1.4-billion lower than forecast in the spring budget, Alberta continues to project a deficit this year of $2.3 to $3 billion.

The province's second-quarter update, which reflects on the first six months of the fiscal year, shows even with $500 million of in-year savings, Alberta's red ink could be three-times deeper than forecast in the 2012-13 budget last February.

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