According to the PBO, Alberta must reduce spending by 3.1 per cent of GDP to restore fiscal sustainability.
This year's combined projected federal and provincial government deficits total $234 billion.
In 2020/21, Alberta’s non-renewable resource revenue will comprise only 4.7 per cent of provincial revenue.
The province's net debt will reach a projected $102.1 billion by 2023/24.
A reliance on non-renewable resource revenue has caused trouble for the provincial finances for decades.
The program offset just 3.5 per cent of Alberta’s year-over-year revenue loss.
By 2023/24, debt interest will consume 6.6 per cent of all provincial revenues.
According to budget forecasts, debt interest payments will reach $3.3 billion by 2023/24.
Of the Alberta government's $54.3 billion in total spending, 50 per cent was on wages and benefits for government workers.