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Alberta's credit rating has been upgraded by S&P Global Ratings due to expectations of strong oil prices and effective expense management. The province's credit rating has been raised to AA-, the fourth-highest available, from A+. Alberta is benefiting from higher-than-expected bitumen royalties, resulting in a projected fiscal surplus of C$5.5 billion. S&P predicts that Alberta will be able to maintain this momentum and limit its debt burden to about 127% of operating revenue. However, the ratings firm also highlights the risks of recession, significant drops in oil prices, policy shifts, or ineffective financial management. S&P suggests that Alberta could further improve its ratings by diversifying its economy and reducing its reliance on resource revenues, although this is deemed unlikely. [Extracted from the article]

Alberta, a Canadian province known for its oil reserves, has seen its budget surplus more than double to $4.1 billion due to higher oil prices and population growth. The province's government revenue is projected to be $74.3 billion for the fiscal year, $4 billion more than previously forecasted. Alberta is also experiencing a population boom as people are attracted to the region for job opportunities and affordable housing. Despite higher expenses from wildfires, the province's debt is expected to decrease. Alberta's economy is projected to grow, but the unemployment rate may rise temporarily before declining. [Extracted from the article]

The article focuses on the budget surplus of Alberta. It discusses the role of its oil fields in the growing budget surplus of the Canadian province. The impact of the surplus on corporate and personal income taxes in Alberta is explored. It offers suggestions on allocating the budget surplus. INSETS: GOING IT ALONE;LOOKING AHEAD.

The article reports that the governments of the provinces of Alberta and Saskatchewan are at odds with elements in the Canadian federal government and with the United States. Alberta and Saskatchewan do not wish to share large budget surpluses, earned as a result of high global prices for natural resources, with the rest of the country. The U.S. is considering a ban on the petroleum produced from the oil sands found in the region.

The article reports that despite appearances to the contrary the government of the Canadian province of Alberta could face financial problems. The 2006-07 budget produced a huge budget surplus, a result of high demand for the region's abundant natural resources, but the author states that spending has increased and the size of government expanded significantly. The fiscal policies of Alberta's president Ed Stelmach are examined.