September 30, 2002 Alberta Finance - prudent fiscal management in 2001-02 Edmonton … Strong fiscal management and decisive action resulted in Alberta's eighth consecutive balanced budget for the fiscal year 2001-02. Amid an environment of volatile energy prices and a global economic slowdown, Alberta Finance took swift action to ensure cores services for Albertans were protected and the budget remained balanced. "The past fiscal year we faced challenges that no one could have foreseen," said Finance Minister Patricia Nelson. "We had to take actions mid-year to see the province's fiscal plan stay on track and make sure the priorities of Albertans were met." As a result of corrective measures taken in October 2001, Alberta enjoyed a balanced budget for the eighth consecutive year. By the end of the fiscal year the province was able to identify available dollars to apply toward Alberta's accumulated debt. In addition to balancing the budget and lowering the accumulated debt other accomplishments of Alberta Finance in 2001-02 include:
"In a year with commitments to tax cuts and our laws for balanced budgets this Annual Report shows the actions the Ministry of Finance took to keep the province's fiscal framework intact," added Nelson. "The bottom line is this report is an opportunity for Albertans to see what Alberta Finance accomplished in a tough financial year and to know that we are open and accountable to them." Copies of Alberta Finance's Annual Report are also available by calling 427-3035. For toll-free access anywhere in Alberta please call 310-0000, then 427-3035. Click on the links below for: - 30 -
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