Paying a premium for labour puts a burden on taxpayers and the province’s books.
A portion of earnings from Alaska's fund are paid to Alaskan citizens as dividends.
According to Alaska’s constitution, the state government must deposit 25 per cent of all mineral revenues into its fund each year.
Total government revenue is expected to be $1.3 billion higher than projected in the province's budget.
The province’s debt as a share of the economy is projected to more than triple by 2046.
The province's net government debt has increased by more than 18 per cent since 2019.
The mining industry plays a central role in the province's economic growth and job creation.
The logic is simple—save resource revenue during good times to cover the shortfall during bad times.
According to the provincial budget, debt will rise from $16.5 billion last year to $17.1 billion this year.