Without the recent resource revenue windfall, the province would still face a large deficit this year.
The province's resource revenue is expected to increase from $3.3 billion in 2020/21 to $13.7 billion in 2021/22.
By 2043, Albertans aged 65 or older will account for a projected 19 per cent of the province's population.
According to projections, seniors will account for 18.8 per cent of Alberta's population by 2040.
Provincial government net debt is projected to reach $73.9 billion—or roughly $16,071 per Albertan.
Alberta’s budget deficit will be $5.8 billion in 2021/22—$12.4 billion less than originally forecast.
The province's per-person spending is significantly higher than in Ontario, B.C. and Quebec.