Falling oil prices and trade troubles continue to threaten Alberta’s finances, but the province’s deficit is expected to shrink only slightly.

It has been pegged at $6.4 billion, down $40 million from a projected $6.5 billion this summer.

The latest update still means this year’s budget represents a massive multibillion-dollar swing from an $8.3-billion surplus last year.

The biggest factor is a 30 per cent decline in natural resource revenue since last year.

While February’s budget projected the price of West Texas Intermediate oil — the North American benchmark — to be US$68 a barrel, the province now predicts it will average US$61.50 per barrel.

Finance Minister Nate Horner says it has been a tough year for everyone, and the province remains focused on controlling spending.

“No

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