Alberta premier says budget surplus forecasts will be revised

Fri Nov 28, 2014 4:17pm EST
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CALGARY, Alberta Nov 28 (Reuters) - At current crude prices the oil-rich Canadian province of Alberta will have a "tight balanced budget" for the 2014/15 fiscal year, Premier Jim Prentice said on Friday as he scaled back oil price forecasts.

In an address to the Calgary Chamber of Commerce, Prentice said a forecast of Alberta having a 2014/15 budget surplus of C$933 million, which was made earlier this week, will "undoubtedly be revised."

He said the province expected an oil price between US$65-75 for the second half of the current fiscal year, down from a previous forecast of $75. (Reporting by Scott Haggett; Writing by Nia Williams; Editing by Chris Reese)