President of Treasury Board and Finance Minister Robin Campbell issued the following statement regarding his meeting with chief economists on December 4.
“Yesterday, I had the opportunity to meet some of Canada’s top economists from the private sector to discuss Alberta’s economic outlook in preparation for Budget 2015.
“As recent events have shown us, Alberta’s energy-based economy is subject to market swings and changes in the global economy, and predicting government revenue, especially our resource revenue, is not a perfect science.
“That’s why we consult with outside expertsundefinedto test our assumptions and put our forecast through private-sector scrutiny. Our economic forecast has a direct impact on the province’s revenue outlook, so it is important that our forecast be as accurate as possible.
“What I heard was that while Alberta’s economy is still on track, government needs to be prudent and make adjustments in response to lower energy prices.
“Although we can’t control volatility in resource prices, there are things we can control, like government spending and making every effort to access new markets, which are priorities for this government.
“Going forward, Albertans can be assured that government is taking all factors into account and seeking the best advice available as we work through the challenging process of budgeting for the next fiscal yearundefinedto be fiscally responsible while still delivering on key investments like schools, roads, hospitals, and increasing Albertans’ quality of life.