Unlike Texas, Alberta government finances deteriorated due to spending-fuelled budget deficits.
alberta government finances
According to the PBO, Alberta must reduce spending by 3.1 per cent of GDP to restore fiscal sustainability.
Between 2008/09 and 2019/20, the province's net debt increased by $71.8 billion.
Provincial program spending increased from $8,012 in 1999/00 to $10,618 by 2006/07.
The provincial government ran deficits in 12 of the past 13 years.
Of the Alberta government's $54.3 billion in total spending, 50 per cent was on wages and benefits for government workers.
As a share of the provincial economy, Alberta's recent deficits are larger than those incurred in the early ’90s.
Alberta government program spending will reach a projected $13,644 per person in 2020/21.