Alberta ran seven deficits in the past eight fiscal years when oil prices averaged $88 per barrel.
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.