Albertans will find out Thursday just how deep in red ink the province is swimming.

Finance Minister Joe Ceci is set to release the year end budget update for 2016/2017, Thursday afternoon.

Back in February, Ceci projected a year-end deficit of $10.8 billion, while claiming a turn-around is imminent.

However, those projections were based on an average oil price of $55 US for 2017 with West Texas Crude currently sitting about $10 below that number.