The province's revenue will likely be even higher than forecast in Budget 2022.
alberta government debt
Higher resource revenue accounts for nearly 80 percent of the $11.5 billion improvement in the province's budgetary balance in 2022/23.
Despite smaller projected budget deficit, Albertans can’t afford to discount province’s fiscal challenges
A boost in projected revenues this year have reduced the expected deficit for 2021/22, but this will only provide a small amount of relief.
The province's net debt will reach a projected $102.1 billion by 2023/24.
According to budget forecasts, debt interest payments will reach $3.3 billion by 2023/24.
As a share of the provincial economy, Alberta's recent deficits are larger than those incurred in the early ’90s.
Both B.C. and Saskatchewan now carry less per-person provincial government debt than Alberta.
Alberta's deficit this year will be the largest in history, relative to the size of the provincial economy, at 6.9 per cent of GDP.
Alberta is projected to experience the largest increase in per-person net debt of any province from 2007/08 to 2020/21.