Once its net debt reaches $48 billion in 2020/21, Alberta will have burned through $83 billion in net assets in 13 years.
alberta government spending
Fort McKay reduced spending and reoriented its business strategy toward income stability.
The Alberta government expects another budget deficit of more than $10 billion.
Ratings agency DBRS has downgraded Alberta’s credit rating from AA (high) to AA.
The PBO has given the Notley government another warning that spending is badly out of line with revenue.
The province’s debt will reach $45 billion by 2019/20.
Through two years, the Notley government has increased spending by 11 per cent.
Alberta has seen a run-up of projected net debt totalling about $10,000 per Albertan by 2019/20—up from essentially zero in 2015/16.
From 2015/16 to the current fiscal year, program spending in Alberta will have increased by 11 per cent.