The Notley government increased spending by nearly 13 per cent over is first two full fiscal years in office.
The Notley government overshot its budgeted spending levels by $2 billion in 2016/17 and $1 billion in 2017/18.
Once its net debt reaches $48 billion in 2020/21, Alberta will have burned through $83 billion in net assets in 13 years.
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.
Ratings agency DBRS has downgraded Alberta’s credit rating from AA (high) to AA.
The province's projected $10.3 billion deficit for 2017/18 could be much higher.
More big deficits of $9.7 billion and $7.2 billion are projected for the next two years.
The province's net financial debt will climb by $35.4 billion between now and 2019/20.