Alberta says Fort McMurray fires cost C$500 mln, ups deficit forecast

Tue Aug 23, 2016 3:37pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

CALGARY, Alberta Aug 23 (Reuters) - The massive wildfire that ripped through the oil sands hub of Fort McMurray in northern Alberta in May will cost the province an estimated C$500 million ($387.33 million) in 2016-17, the Alberta government said on Tuesday in a first quarter fiscal update.

The Canadian crude-producing province's 2016-17 deficit is now forecast to be C$10.9 billion, C$527 million higher than estimated in the April budget. ($1 = 1.2909 Canadian dollars) (Reporting by Nia Williams; Editing by Sandra Maler)