Alberta ran deficits even before oil prices fell.
According to the annual report, the province’s operating deficit for the year was $6.4 billion—about $300 million more than projected by the Notley government.
Alberta projects a budget deficit of $28.9 billion over the next three years.
By 2018/19, net debt will reach $33.2 billion—about $7,500 for every Albertan.
Alberta expects to rack up $37 billion in new debt over the next three years.
There are 175 collective bargaining agreements with public-sector employees coming up for negotiation in the near future.
Alberta will become a net debtor province this year for the first time since 1999/00.
Ontario has seen its net debt increase by $126.5 billion since 2008/09.