By 2023/24, Alberta’s total net debt is projected to reach $56 billion—approximately $12,500 per person.
The $10.3 billion deficit the province plans to run this year is just shy of the provincial record of $10.8 billion set last year.
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.
Over the past three years, Alberta’s average annual total job growth was a meagre 0.6 per cent.
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.