EDMONTON - Alberta's overall budget projections remain more-or-less on track, despite turmoil in global financial markets.

 

According
to the first-quarter fiscal update, the province's deficit projection
remains at $4.76 billion, about $7 million higher than initially
forecast.

 

But other figures in the statement suggest how volatile the financial picture remains.

 

Lower income tax assessments last year suggest the province will collect nearly $900 million less from that source in 2010.


Meanwhile, the amount of corporate income tax has increased by almost the same amount.


Resource revenues should be more than $600 million higher than expected, mostly from booming land sales.


At the same time, stock market losses have reduced the value of the Heritage Fund by more than $280 million.