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Latest News

Alberta GDP numbers rise across the board

June 18, 2018 – The real Gross Domestic Product (GDP) for Alberta’s agri-food industry rose by 2.5 per cent in 2017 to $6.5 billion. The province accounts for 12.5 per cent of the country’s agri-food GDP, and is in third spot nationally (after Ontario and Quebec).

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Alberta’s economy growing at moderate pace

EDMONTON — Alberta’s economy continues to grow, albeit at a moderate pace, according to analysts.

“The report added that employment is growing, but at a slow rate — across the province, the last 12 months have seen strong employment gains in manufacturing, oil and gas and the professional, scientific and technical services.”

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Alberta manufacturing sales reach $6.2 billion

Across the country, sales were up in 13 of 21 industries in March, representing 72% of the Canadian manufacturing sector: StatsCan

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Alberta deficit forecast drops to $9.1B, as province gains 90,000 jobs in latest financial update

CBC News | Feb 28, 2018

“Alberta is now forecasting a year-end deficit of $9.1 billion, a drop of $1.4 billion from the figure in the March 2017 budget.

The improvement, reported Wednesday in the third-quarter update, is mostly due to higher oil and gas revenues and gains in investment income.

The brightening economic outlook has prompted Alberta Finance to update its GDP prediction for the third time this fiscal year.

The provincial unemployment rate has been revised to 6.8 per cent, an improvement over the 7.6-per-cent rate forecast in March 2017.

Finance Minister Joe Ceci said nearly 90,000 full-time jobs were added between January 2017 and January 2018, with 12,500 in mining and oil and gas production, nearly 23,000 in manufacturing, about 8,000 in the financial and real estate sector, 7,100 in transportation and warehousing and 5,700 in the accommodation and food service sector.

Ceci said he expects the province’s economy to be fully recovered in a year.

“We are forecasting we will be at pre-recession levels by 2019,” he said.

The finance minister announced the 2018-19 budget will be released on March 22. The government is expected to lay out how it plans to return to balanced budgets by 2023.”

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Alberta to invest $1 billion over eight years in bitumen upgrading

Published on: February 26, 2018 –  Edmonton Journal
“The province plans to spend up to $1 billion over the next eight years for new partial upgrading facilities in Alberta to diversify the energy sector.

The money will likely come in the form of $800 million in loan guarantees and $200 million in grants.

The government hopes it will attract as many as five new upgrading facilities, representing $5 billion in private investment and 4,000 construction jobs.

The cash injection comes as a result of recommendations made by Alberta’s energy diversification advisory committee, released Monday.

The committee was formed after the 2016 royalty review. Its mandate was to figure out how to increase the value of Alberta’s resources and create more jobs — think opportunities around partial upgrading, refining, petrochemicals and chemicals manufacturing.”

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