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Sovereign Wealth Funds Briefing - Categorized | Performance

Alberta boom bottoms out

Posted on 26 February 2009

From Lacombeglobe.com: With the stock market tumbling, Alberta’s Heritage Fund has lost 14% of its value – about $3 billion – and other rainy-day funds are down by about 16%, said the finance minister, which leaves the province is in a very different position compared to six months ago when an $8.5 billion budget surplus was projected.

The Alberta government’s plan for weathering the storm includes keeping a close eye on government spending, drawing from its emergency savings, removing internal trade barriers, investments in green technologies, the elimination of health care premiums and maintaining low, competitive taxes…. Full Article: Source


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