Many economists are expecting grim news when Alberta’s Finance Minister Robin Campbell updates the province’s finances Tuesday morning.
Campbell will detail the province’s third-quarter fiscal update and offer an economic statement at 11 a.m.
CBC will livestream the news conference here.
The Conference Board of Canada has already declared the party over in Alberta as plummeting oil prices push the economy into a freefall.
CIBC warned Alberta will join fellow oil-producing province Newfoundland and Labrador into recession this year.
The Canada West Foundation suggested that while the sky isn’t falling, Albertans need to prepare themselves for shaky times.
ATB economist Todd Hirsch remained more optimistic.
“Right now we’re seeing low fuel prices, that helps forestry, agriculture and tourism,” he said.
“We’re seeing a soft Canadian dollar. All three industries do well under that scenario. And I think all the planets are aligning in the proper way for the second, third, and fourth largest industries.
“That’s the positive news that we often ignore.”
