The last provincial budget estimated the government will run deficits until 2023/24.
The Notley government increased spending by nearly 13 per cent over is first two full fiscal years in office.
The Notley government overshot its budgeted spending levels by $2 billion in 2016/17 and $1 billion in 2017/18.
Between now and 2022/23, Alberta’s per-person debt is projected to grow by 157 per cent.
By 2023/24, Alberta’s total net debt is projected to reach $56 billion—approximately $12,500 per person.
Once its net debt reaches $48 billion in 2020/21, Alberta will have burned through $83 billion in net assets in 13 years.
The budget projects Alberta’s operating deficit this year will be $8.8 billion.
The Notley government recently released its third quarter fiscal update.
The Alberta government expects another budget deficit of more than $10 billion.