The province's annual debt-servicing costs will increase to a projected $3 billion by 2022/23.
alberta government debt
The COVID crisis combined with the oil-price war will reduce revenue and trigger spending increases.
Chronic deficits through good times and bad have led to a roughly $70 billion erosion of the province’s financial assets.
By 2022/23, the province will have accumulated an estimated $46.6 billion in net debt.
The province's net debt is expected to grow by $11 billion over the next three years.
This year, the province's debt will reach a projected $36.6 billion.
Alberta now spends roughly 20 per cent more per person on day-to-day government expenditures than neighbouring B.C.
This year, the Kenney government forecasts an $8.7 billion operating deficit.
Next year Alberta is expected to surpass B.C. in per-person debt.