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Alberta aims to keep deficit at $6.1B despite low oil prices: finance minister

EDMONTON — Alberta Finance Minister Joe Ceci says the government’s goal is to keep this year’s deficit at $6.1 billion despite oil prices that continue to slide.

Ceci says he doesn’t plan to make a mid-course correction before the end of the financial year on March 31.

The budget is based on an average West Texas Intermediate price of US$50 for a barrel of oil.

In recent weeks, the price has slipped well under $40 a barrel.

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READ MORE: Oil drops below $40 U.S. per barrel

Ceci has said that a number of programs that were to start up in 2016-17 may have to be put on hold or get reduced funding.

But one initiative that is going ahead is a student summer hiring program.

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WATCH: The announcement that the Alberta NDP could delay promises that would help Albertans comes at a time when they are needed the most. Tracy Nagai reports.

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