Alberta's new budget projects a $18.2 billion deficit in 2021/22.
Both B.C. and Saskatchewan now carry less per-person provincial government debt than Alberta.
Alberta is projected to experience the largest increase in per-person net debt of any province from 2007/08 to 2020/21.
The cost of servicing the province’s debt has increased to more than $2 billion.
Premier Kenney says province likely to run a deficit close to $20 billion.
The province's annual debt-servicing costs will increase to a projected $3 billion by 2022/23.
Chronic deficits through good times and bad have led to a roughly $70 billion erosion of the province’s financial assets.
Last year, the province ran a $6.7 billion operating deficit.
Additional spending reductions would have created additional fiscal room for pro-growth tax reform.