The province’s current spending levels greatly exceed its tax revenues.
alberta government debt
Program spending is projected to be $4.2 billion higher in 2023/24 than budgeted just a few months ago.
It would be irresponsible for the Smith government to repeat the mistakes of past governments.
The province's debt interest costs will reach a forecasted $2.7 billion this year.
The province's revenue will likely be even higher than forecast in Budget 2022.
Higher resource revenue accounts for nearly 80 percent of the $11.5 billion improvement in the province's budgetary balance in 2022/23.
Despite smaller projected budget deficit, Albertans can’t afford to discount province’s fiscal challenges
A boost in projected revenues this year have reduced the expected deficit for 2021/22, but this will only provide a small amount of relief.
The province's net debt will reach a projected $102.1 billion by 2023/24.
According to budget forecasts, debt interest payments will reach $3.3 billion by 2023/24.