Canada's main oil-producing province Alberta on Thursday forecast a C$12.3 billion ($9.2 billion) budget surplus for the 2022/23 fiscal year, but warned economic risks are increasing as high inflation, rising interest rates and geopolitical unrest slow global activity.
The estimated surplus is less than the C$13.2 billion surplus forecast in August, due to weakening global oil prices, but still marks a dramatic turnaround from recent years when Alberta posted sustained deficits.
