The province will run a projected $12.3 billion budget surplus this fiscal year.
alberta heritage fund
Alberta's fund was valued at just C$16.2 billion compared to US$65.3 billion for Alaska’s fund.
In 2022/23, resource revenue is projected to be $28.4 billion, the highest level on record.
As resource revenue began increasing, Alberta’s per-person government spending increased from $7,393 to $13,114.
The province went from spending $61 per person on provincial debt interest to roughly $562.
The province is currently experiencing a windfall of resource revenue.
According to recent forecasts, the province's resource revenue will likely be higher than forecast in Budget 2022.
The Alberta government has not contributed any resource revenue to the Heritage Fund since 1986/87.
By contributing to the Heritage Fund, the government would essentially transform a share of onetime resource revenue into a financial asset.