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Alberta economy has recovered two-thirds of recession losses: government

JUNE 28, 2018 – The Canadian Press – EDMONTON — The Alberta government says the provincial economy has recovered about two-thirds of its losses from the last recession.

It says the economy grew by 4.9 per cent last year and is expected to add 2.7 per cent this year.

The government’s 2017-18 annual report says Alberta ended the year with an $8-billion deficit.

That’s $2.5 billion lower than what was expected in last year’s budget.

The better-than-expected results were partly due to higher bitumen royalties and investment income.

Conventional oil and gas drilling was up by 65 per cent. The manufacturing and forestry sectors also saw stronger performance.

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