EDMONTON — Alberta is banking on bad times getting better in a budget that drips red ink, but promises a new hospital, new schools and renewed front-line spending.
Finance Minister Joe Ceci is forecasting a $10.3-billion deficit in 2017-18 on total spending of $45 billion.
Alberta is on track to hit $71 billion in debt — with more than $2 billion in interest payments a year — by the end of the decade.
The province is counting on oil prices continuing to slowly rebound to whittle away at the deficit.
There are no new taxes, tax increases or program cuts in the fiscal plan.
The government is promising a new hospital for Edmonton, 10 new schools across the province, more beds for seniors care, more Crown prosecutors and a new $97 million courthouse in Red Deer.
More to come