25.11.2011 - Heritage Fund shrinking
The Government of Alberta announced the results of their second quarter on Monday and the Alberta Heritage Savings Trust Fund took a substantial hit in projected investment income. Finance Minister Ron Liepert explained that the financial situation in Europe has had an effect on the province’s finances. “Nothing directly, because we really don’t do that much business with Europe, but it’s the indirect effect,” said Liepert. “The European turmoil has had a negative effect on the markets. Our projected income from the investments this year is now projected to be only half of what we said it would be in the budget so that hits our bottom line. It’s an indirect hit from the Europe situation.”............................................Full Article: Source
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