Joe Ceci stands by $10.4B budget deficit despite rising oil prices

Alberta's budget forecast remains at a bleak $10.4-billion deficit even with the recent rise in oil prices, says Alberta's finance minister.

At Joe Ceci's last budget update on Feb. 24, the price of WestTexas Intermediatethe main North American contractwas hovering at $30 US a barrel. By Thursday, it was trading above $40 US.

"We have built in ... a price for oil forecasts going forward," saidJoe Ceci.

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"If this current increase in oil continues, then I think that would mean good things for our budgetmeaning we wouldn't see the deficit increase, and we wouldn't have to go into more debt to maintain important services that Albertans rely on."

Ceci also said that the government is sticking to its plan to bring in a carbon tax effective January 2017, the details of which will be "rolled out as a piece of legislation after the budget."

Cecisaid he does not think Albertans are dissatisfied with the waythe NDP is handling the downturn, despite recent survey results.

AnInsights West poll out Fridaysuggests thattwo-thirds of Albertansbelieve Premier Rachel Notley's NDP government will be ousted in the 2019 provincial election.

"That poll is probably not worth very much ... and not indicative of the work we're doing."